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Clock Ticking To Buy Health Insurance; Penalty Goes Up in 2016

Published
Time is running out to enroll in health insurance if you don’t already have it. And, the penalty for not having insurance goes up substantially in 2016....

Time is running out to enroll in health insurance if you don’t already have it. And, the penalty for not having insurance goes up substantially in 2016.

If you can afford health insurance but don’t buy it, the federal government will charge every adult in your household $695 dollars or two-point-five percent of your annual household income, whichever is higher. 

And if you can’t afford health insurance or don’t get it through work, you’re not alone. Most of the enrollees on HealthSource RI to-date have qualified for some kind of financial assistance.

To ensure coverage for January 2016, HealthSource RI customers must submit payment by December 23rd. HealthSource RI officials say more than 30,000 have already re-enrolled in plans. But state statistics show tens of thousands of Rhode Islanders still lack coverage. 

The state's online health insurance marketplace is currently seeking a permanent director, after former head Anya Rader Wallack left to head the state's Medicaid agency. HealthSource RI has faced criticism this year for customer service hiccups. 

Clock Ticking To Buy Health Insurance; Penalty Goes Up in 2016
Clock Ticking To Buy Health Insurance; Penalty Goes Up in 2016