YOUNGSTOWN, Ohio (WKBN) – The crunch is underway to get signed up for health care under the Affordable Care Act. The deadline is in just a few days and if you miss it, it will cost you.
The official deadline is March 31. You must sign up for coverage unless you already have it or you’re covered by Medicare. Otherwise you could face a fine.
“It is about 1 percent of your income or $95 a person,” said Kathleen Falk, with the U.S. Department of Health and Human Services. “That is why there are tax credits and cost-sharing available. It is a very affordable product.”
There is also a charge of $47.50 for each uninsured child, capping the most a family could pay in 2014 at $285 dollars. But that number goes up each year. In 2016, it increases to 2.5 percent of your income or $695 dollars a person, whichever is higher.
“The whole point is that the fine is relatively small because anybody can afford it under this law,” said U.S. Senator Sherrod Brown, D-Ohio. “There is no reason anybody should want to pay the fine when you have insurance. It can be affordable, and you can get help in buying insurance.”
The fines will be deducted beginning with the April 15 tax deadline. There are exceptions to the fine structure. For more information, go to healthcare.gov.