Uninsured Not Sure They’ll Comply With Obamacare, Survey Says

What's Hot


2 Types of Black Marks Might Vanish From Your Credit File SoonBorrow

6 Ways the Obamacare Overhaul Might Impact Your WalletInsurance

7 Dumb and Costly Moves Homebuyers MakeBorrow

This Free Software Brings Old Laptops Back to LifeMore

Obamacare Replacement Plan Gets ‘F’ Rating from Consumer ReportsFamily

Beware These 12 Common Money MistakesCredit & Debt

21 Restaurants Offering Free Food Right NowSaving Money

17 Ways to Have More Fun for Less MoneySave

House Hunters: Beware of These 6 Mortgage MistakesBorrow

30 Household Uses for Baby OilSave

25 Ways to Spend Less on FoodMore

Nearly Half of Heart-Related Deaths Linked to These 10 Foods and IngredientsFamily

5 Surprising Benefits of Exercising Outdoors in WinterFamily

10 Ways to Save When You’re Making Minimum WageSave

Boost Your Credit Score Fast With These 7 MovesCredit & Debt

7 Painless Ways to Pay Off Your Mortgage Years EarlierBorrow

The Most Sinful City in the U.S. Is … (Hint: It’s Not Vegas)Family

The True Cost of Bad CreditCredit & Debt

10 Companies With the Best 401(k) PlansGrow

This Scam Now Tops ID Theft as the No. 2 Consumer ComplaintFamily

6 Stores With Awesome Reward ProgramsFamily

6 Ways to Save More at Lowe’s and The Home DepotSave

6 Healthful Treats for Your DogFamily

New Study Ranks the Best States in the U.S.Family

Thousands of Millionaires Moving to 1 Country — and Leaving AnotherGrow

Strapped for College Costs? How to Get the Most From FAFSABorrow

6 Overlooked Ways to Save at Chick-fil-AFamily

Ask Stacy: What’s the Fastest Way to Pay Off My Mortgage?Borrow

Where to Sell Your Stuff for Top DollarAround The House

8 Ways to Get a Good Price on a Shiny New AutoCars

Ask Stacy: How Do I Start Over?Credit & Debt

Secret Cell Plans: Savings Verizon, AT&T, T-Mobile and Sprint Don’t Want You to Know AboutFamily

30 Awesome Things to Do in RetirementCollege

14 Super Smart Ways to Save on TravelSave

The Rich Prefer Modest Cars — Should You Join Them?Cars

You’ll Soon Pay More to Shop at CostcoSave

10 Ways to Save When Your Teen Starts DrivingFamily

A new survey shows widespread confusion about the requirements of the Affordable Care Act.

The Affordable Care Act, also known as Obamacare, requires everyone to purchase health insurance by Jan. 1 or pay a penalty, but a new survey indicates that many of the uninsured still aren’t sure about getting coverage.

InsuranceQuotes.com released the survey, which initially included 1,001 adults, 134 of whom were uninsured. They interviewed an additional 152 uninsured adults to get better data.

Among the uninsured, 64 percent said they had not yet decided to purchase insurance, 19 percent planned to acquire coverage by the deadline, and 10 percent planned to simply pay the penalty for not buying it. That penalty starts small, but gets bigger over time, the site says:

In 2014 [the penalty] is the greater of $95 or 1 percent of income for an adult.  For children under 18, the penalty is half the adult amount. The penalty increases each year, up to the greater of $695 or 2.5 percent of household income for an adult in 2016. And a family would pay a maximum of the greater of $2,085 or 2.5 percent of income then, according to the Kaiser Family Foundation.

Here are some additional findings from the survey:

  • 61 percent of the uninsured said they don’t have health insurance because they can’t afford it.
  • 58 percent aren’t sure if they qualify for tax credits that will lower their insurance costs under Obamacare.
  • 68 percent of those with incomes under $30,000 a year are not sure of their eligibility.
  • 61 percent of Americans believe Obamacare will increase the cost of health care.

Tax credits will be available to households with incomes between 100 percent and 400 percent of the federal poverty level, Healthcare.gov says. That is currently $45,960 for an individual or $94,200 for a family of four, Families USA says.

You can estimate the size of your potential tax credit with the Kaiser Family Foundation subsidy calculator.

For an individual making $30,000 a year, Kaiser says minimum coverage would cost about $1,964 per year after a $538 tax credit — working out to a monthly payment of about $165. (Although it’s worth noting that someone with minimum coverage would face higher out-of-pocket costs.)

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!

💰🗣📰

Read Next: 8 Great Travel Freebies You Can Get in 2017

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 2,017 more deals!