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Report: New Proposal in CT Would Charge Taxpayers Up to $10,000 for Not Having Health Insurance

March 8, 2018 By Staff
Report: New Proposal in CT Would Charge Taxpayers Up to $10,000 for Not Having Health Insurance

The GOP tax bill got rid of Obamacare's individual mandate. Now, some lawmakers in Connecticut want to bring it back.

The GOP’s tax cut bill, passed in December, effectively rid the country of the individual mandate to purchase health insurance under the Affordable Care Act (Obamacare), by removing the tax penalty on individuals for not having insurance.

Now, some lawmakers in Connecticut want to bring it back.

Vox first reported, on Wednesday, about a bill that has been introduced in the Insurance and Real Estate Committee in Connecticut’s legislature that could charge individuals up to $10,000 for not having health insurance.

Some key paragraphs from Vox‘s Sarah Kliff:

Obamacare’s subsidies do eventually cap out for higher-income Americans. People who earn more than 400 percent of the poverty line (about $100,000 for a family of four) get no help from the government — they have to pay their entire premium out-of-pocket.

Those people would, under [Yale economist Fiona] Scott-Morton’s proposal, have two options. The first would be paying a very large fine, one equivalent to 9.66 percent of their income or $10,000, whichever is smaller.

Do some back-of-the-napkin, math, and anyone making over $103,519 a year who doesn’t have health insurance would be paying the “smaller” fine of $10,000.

The bill’s text is here.