Your Personal Vehicle

Phox, don't waste facts on Dutch. He has too many opinions. Like, Obama invented high deductibles. (They've been around since there were deductibles). He doesn't want insurance mail filling up his mailbox.

HAHAHA! Also, (this is back in 1991) when I was hit with a catasrophe I got a bill from the hospital for $2,000,000!!!!

Ummm... What? How? Well, long story, I was hit in the drivers door going 60. I was in a Toyota Corolla and the other guy was in a 1977 Chevy Blazer. The police said it was my fault. I have no memory of any of it because I was in a coma for 3 weeks.

Anyway, long story short, I had insurance on me for $250,000. I thought that was plenty. It was not. I owed $1,750,000. SO, yeah, go ahead, go without insurance. What could go wrong?

I just decided that having the penalty took out of my income tax refund would be cheaper in the end, since I can't afford to go to the doctor anymore for everything that ails me.

Have you considered the fact that the penalty will increase each year you are hit with it?

How Much is the Penalty Fee for Not Having Insurance?

Shared Responsibility Payment for 2014 – If you Went Without Coverage in 2014

The annual fee for not having insurance in 2014 is $95 per adult and $47.50 per child (up to $285 for a family), or it’s 1% of your household income above the tax return filing threshold for your filing status – whichever is greater. You’ll pay 1/12 of the total fee for each full month in which a family member went without coverage or an exemption.

Shared Responsibility Payment for 2015 – If you Go Without Coverage in 2015

The annual fee for not having insurance in 2015 is $325 per adult and $162.50 per child (up to $975 for a family), or it’s 2% of your household income above the tax return filing threshold for your filing status – whichever is greater. You’ll pay 1/12 of the total fee for each full month in which a family member went without coverage or an exemption.

Shared Responsibility Payment for 2016 – If you Go Without Coverage in 2016

The annual fee for not having insurance in 2015 is $695 per adult and $347.50 per child (up to $2,085 for a family), or it’s 2.5% of your household income above the tax return filing threshold for your filing status – whichever is greater. You’ll pay 1/12 of the total fee for each full month in which a family member went without coverage or an exemption.

I don't like it anymore than anyone else but the first year fine was no biggy, but then 2nd year it's almost 2x as much and then if you go the 3rd year it's $347 min... or 2.5% of your AGI (Adjusted gross income)... if your AGI is 30,000 then your fine for 2016 tax year will be $750!!!

Oh you say you can't afford health insurance... let us hit you with a huge fine that you probably ALSO can't afford... yup that's the irs for ya... steal from the poor give to the... wait they don't give to the rich either they just give to themselves :P

Phox, let me do the math here quickly. I was spending $2200 a year on insurance. $2200 minus $750 is $1450 I will keep in my pocket. The $750 I will spend, will come out of my income tax refund check, which I would have blown on something I didn't need. Now, instead of stimulating the economy by wasting my tax refund on something I don't need, the government can use it to pay for a few unemployed folks doctor bills.

I've been seeing doctors for years, and all they have ever done for me, was write me a prescripton, that eventually lost it's effectiveness, while simultaneously setting me up to need three other prescriptions from the side effects the first prescription created.

Insurance of any kind is simply a form of gambling. You pay your premiums betting you will need coverage, and the insurance companies take your payment betting that you won't. In the end, the insurance campany wins, because if they didn't, they would find another business to invest their shareholders money.

Like one of my doctors told me, the insurance companies are not in business to make sure the patient gets the best medical care possible. They are in business to make sure their shareholders earn the most profit possible.

I suppose in some cases, too much truth starts to become a negative thing for some folks.

As I read through this thread I sort of chuckled how it went from where to park to health insurance.

Maybe we could start a new thread about insurance.