Penalty For Not Having ObamaCrapCare--The Next Hurdle After Website Starts Working

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Obamacare Tax Penalty: Increasing Public Concern

By Juliette Fairley

NEW YORK (MainStreet) — A fine for being without health insurance under the Affordable Care Act isn't scheduled to take effect until 2014, but with glitches and loss of current plans, there is increasing concern for Obamacare's sanction on the uninsured. As a result, 51% of Americans supporting a one-year delay of the penalty, according to a new survey.

"It is in full force for individuals, but the penalty imposed on employers will not begin until 2015," said Steve Jackson, senior vice president of strategic development with PrimePay. "The only way to repeal this law is with a Senate vote but even then President Obama would also need to vote on it."

About 41% prefer that the uninsured fine be waived for consumers in 2014, as it already has been waived for businesses, according to a HealthPocket survey.

"Waiving the fine takes away motivation for business owners to promptly enroll and provide health insurance to employees," said Dan Flugrath, CPA, certified financial planner and principal with MBAF. "This will put an additional financial burden onhealth insurance companies, as they will see a drop in enrollment and drop in revenue. While this is good for businesses in that they will save on the expense of paying for health insurance, it will have a negative impact on the health insurance exchanges."

Although the Affordable Care Act was signed into law in 2010, many of the provisions have only recently been addressed and clarified. As a result of the tardiness, employers need more time to ensure that their plans and the way that they are communicated and administered conform to these new rules.