Actually, the penalty is a fine... I've heard everything from $750 to $4000, but I can't find any solid numbers (and I don't make a habit of skimming monstrous legal texts)
This penalty is apparently supposed to be a source of funding for the bill, the logic being that many people will choose to pay this fine rather than buy (presumably more expensive) insurance.
This seems contrary to the purpose of the bill... it can only be properly funded if people aren't covered, but it's goal is to expand the number of people covered...
This seems contrary to the purpose of the bill... it can only be properly funded if people aren't covered, but it's goal is to expand the number of people covered...
My understanding is that the more people that are insured the less money the bill needs. If you get private insurance, government money isn't needed. Obviously there is some overhead cost, etc... that means this won't out when few enough people are insured, but if we get to that point we'll need to rethink things anyway.
This penalty is apparently supposed to be a source of funding for the bill, the logic being that many people will choose to pay this fine rather than buy (presumably more expensive) insurance.
This seems contrary to the purpose of the bill... it can only be properly funded if people aren't covered, but it's goal is to expand the number of people covered...