Consumers without health insurance will face tax penalties next year

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Open enrollment period is coming, giving consumers a chance to purchase health insurance policies November is coming and in the United States that means that the next open enrollment for health insurance exchanges will begin. On November 1, consumers will be able to find and renew health insurance policies through these exchanges. The federal government expects that several million people will find coverage through these exchanges, but many more will forgo coverage entirely. Health insurance coverage is expected to become more expensive in 2016, with insurers raising premiums. Uninsured consumers…

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Health insurance may be more expensive than penalties from the federal government

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Some may be more willing to pay federal penalties than purchase insurance coverage Health insurance may be more costly for consumers in the U.S. than federal tax penalties associated with the country’s health care reform. According to the provisions of the Affordable Care Act, those without insurance coverage face a fine. This fine is based on a person’s income, but is also set at a flat rate of $99. The fine is issued every year and is due when taxes are being filed to the federal government. Researchers find that…

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