Federal penalties may be more costly than people may realize The federal health insurance mandate has been in effect in the U.S. for nearly three months, but penalties for those without insurance coverage are not expected to be seen until after March 31. When the open enrollment period for insurance exchanges comes to a close, those without insurance coverage will become vulnerable to federal penalties. These penalties levy a 1% of annual household income fee or a flat rate of $95 based on yearly income. These penalties, however, may only…
Read MoreHealth insurance penalties could add up quickly for the uninsured
