Monday, October 21, 2013

Two New Obamacare Lies

Lie #1: The penalty for not buying insurance is $95 in the first year. You have undoubtedly heard this number on all the major news channels. The truth is it's $95 or 1% of your income. If you make $40k a year, it's $400.

Lie #2: You don't have to buy insurance until March 31, 2014. The open enrollment period lasts that long, but in order to avoid the penalty, you will need to buy insurance by around February 15, 2014.The law says you have to have insurance before the end of March. Insurance policies start on the 1st of the month and you will need some processing time.

Of course these are just a couple of the new lies. We are still dealing with the old lies about 'keeping your plan if you like your plan' and 'health insurance costs going down $2500. '

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