The White House revealed on Wednesday that it is considering an extension on the current deadline for ObamaCare coverage. According to NBC News, the deadline for those without health insurance to purchase a qualifying plan could be pushed back as much as six weeks, possibly to the end of March.
Under current law, the fine incurred for being without insurance next year will still be $95 per person or 1% of one’s income, whichever is greater. Three years from now, that fine will be raisedto $695 per person or 2.5% of income. The penalty will go higher in subsequent years based on inflation rates, which are more than likely to rise as well.
Written by Chris Bacavis