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I Already have Insurance through my Work – Can I Still Purchase a Policy through my State’s Marketplace?

on Mon, 06/03/2013 - 3:53pm

Yes, you may purchase health insurance through a Marketplace instead of through your employer.  However, if you purchase health insurance through a Marketplace instead of through your employer, you will no longer receive employer contributions toward your health insurance premiums and you will not be eligible for the Premium Insurance Tax Credit or for assistance with your cost-sharing obligations, regardless of your household income and/or size, if the health insurance offered through your employer is deemed ‘affordable’ (less than 9.5 percent of your annual household income for 2014

What happens if I choose not to purchase health insurance?

on Tue, 05/28/2013 - 7:48pm

If you do not purchase insurance, you may be required to pay an annual penalty if you are uninsured for 3 months or more in a given year. In 2014, the total amount of the penalty is $95 per adult and $47.50 per child, with a maximum penalty of $285 per family, OR one percent of family income, whichever is greater.

In 2015, the penalty is $325 per adult and $162.50 per child, with a maximum penalty of $975 per family, OR two percent of family income, whichever is greater.

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