My husband is Turing 30 , what penalties are there if we don't get health insurance verses getting it?
Answers:
There are no "penalties", However, if something happens you will be responsible for 100% of the charges at the billed rate. In addition, if you do not have insurance - you run the risk of not being able to obtain insurance should he come down with an uninsurable condition.
You might want to think about opening up an Health Savings Account (HSA) qualified plan. This way you have a High Deductible Health Plan that will protect you for catestrophic events and you will have the ability to pre-fund your deductible on a tax free basis. The balances in your HSA roll over from year to year and give you the ability to save for future medical expenses.
Also, a lot of your HSA qualified plans pay 100% of wellness/preventative first dollar - no cost to you.
penalties? you just dont have insurance and pay helluva money out of pocket.
If your family is healthy then maybe you can get by with paying out of pocket. But if you have health conditions that warrant attention or can't afford to pay out of pocket if something drastic should happen -- I'd say get it with one of your employers.
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