The state health insurance mandate is effective again as of January 1
Don't stop providing medical coverage to your family.
Photo:
Courtesy Uncovered California
"I never get sick." "I'm healthy, why am I going to buy health insurance?"
When we are healthy, we believe that nothing can ever happen to us; that diseases and accidents only happen to others. But deep down we know that, At any time and unexpectedly, we may get hurt and need medical services.
Paying for medical coverage is not only an intelligent preventive measure that protects and protects our loved ones, but is also financially convenient. When you pay coverage every month, you have the peace of mind that an unexpected illness or accident will not leave you on the street. Currently, medical service debts are the first cause of bankruptcy for Americans. It is estimated that around 62% of bankruptcies in the country were caused by medical bills.
As of January 1, 2020, there will be a new reason to buy health insurance. In less than a month, The California medical insurance mandate will come into effect again. This means that all Californians should get medical coverage. Those who choose not to do so must pay a fine when they file their taxes in 2021.
“The expiration date to enroll in medical insurance is January 31, 2020, and perhaps by that date many people still do not realize that it will now be mandatory to do so again. By the time April arrives and they have to pay a fine along with their taxes, it's too late, ”said Yurina Melara, spokeswoman for Covered California.
Why do i have to pay
Contrary to what some people believe, they feel "forced" to pay for their medical coverage, The mandate to do so benefits everyone, in many ways.
Originally, the affordable health care law, also known as Obamacare, sought that all people, regardless of their financial status or possible pre-existing medical conditions, they could get health insurance. In the past, certain medical insurances rejected those people with illnesses prior to the purchase of coverage, as well as senior citizens, because they were “more expensive” patients who require more visits and medical services. On the other hand, people without pre-existing illnesses and young people, who need less medical services, and who are less "expensive" for insurance companies, did not always choose to pay for coverage.
By making medical insurance mandatory, insurance companies can compensate and match expenses, by reducing the risk group with patients who would otherwise choose not to buy coverage. It is proven that the fine is an incentive for people to choose to pay for medical coverage.
Fines
When the time comes to calculate the tax payment, in 2021, those people who did not have medical coverage during 2020 and live in California, will have to pay a fine. In general terms, the minimum fine for an individual is $ 695, or 2.5% of the family's annual income, whatever the greater amount of the two. The fine for a dependent child who has not had insurance is half the fine for an adult.
Penalty estimates for those who do not pay for medical coverage in 2020
- Individual $ 695
- Marriage-Couple $ 1,390
- Family of four $ 2,085
Registration for medical insurance for 2020 is open until January 31, 2020.
For more information you can call 1-866-438-6760.
