Tax penalty to hit nearly 6M uninsured people

September 20, 2012 by Ricardo Alonso-zaldivar

(AP)—Congressional budget analysts are now estimating that nearly 6 million Americans—most of them in the middle class—will have to pay a tax penalty for not getting health insurance once President Barack Obama's health care law is fully in place.

That's 2 million more than a previous estimate found, or a 50 percent increase. The average penalty will be nearly $1,200.

Starting in 2014, the new health care law requires virtually every legal resident of the U.S. to carry health insurance, or face a tax penalty. The Supreme Court upheld Obama's law as constitutional after finding that the penalty fell within the power of Congress to impose taxes.

The nonpartisan said Wednesday the penalty will raise $6.9 billion when fully in effect in 2016.

Explore further: US Supreme Court sets hearings on Obama health reform

shares

Related Stories

US Supreme Court sets hearings on Obama health reform

December 19, 2011

The US Supreme Court will hear evidence challenging President Barack Obama's health care reform -- which has come under fire from Republicans -- over three days in March, a spokeswoman said Monday.

US Supreme Court opens health care reform case

March 26, 2012

The US Supreme Court appeared set to press ahead with an explosive review of President Barack Obama's signature health care reform law Monday at the start of three days of complex hearings.

Aide says Romney thinks US health mandate not a tax

July 2, 2012

A top aide to White House hopeful Mitt Romney thrust a wrench Monday into the Republican attack line that President Barack Obama's individual health insurance mandate is a tax, arguing it's actually a penalty.

Romney threads position on health law 'tax'

July 5, 2012

Republican White House hopeful Mitt Romney has appeared to contradict previous campaign statements by saying President Barack Obama's health reform law entails a "tax" and not a penalty.

Recommended for you

Higher intelligence score means better physical performance

August 14, 2015

New research reveals a distinct association between male intelligence in early adulthood and their subsequent midlife physical performance. The higher intelligence score, the better physical performance, the study reveals. ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.