FYI – something you should know. If you don’t have health insurance, YOU WILL HAVE TO PAY A PENALTY ON YOUR 2014 TAX RETURN!!!
How Much Is It? For the first year of the new law, 2014, the fine for not having insurance is the lowest it will be. After that, it goes up steeply in 2015 and again in 2016.
There are two ways the government will calculate what you owe when you file your taxes. You have to pay whichever amount is higher. The fees for 2014 ($95 for each adult and $47.50 for each child, but not more than $285 total per family).Or 1% of your family’s yearly taxable income.
Please get health insurance before 2015 – the penalty is almost triple.
I will keep you posted. Let people know!!!!