Health Insurance


Image 1The Affordable Care Act law enacted in March of 2010 has totally redefined how health insurance will be delivered and regulated.   


When key parts of the Affordable Care Act take effect the health care market place will expand to include new ways health insurance will be delivered.     Insurance companies in both the Open private market and  Government Marketplace Exchanges will offer new comprehensive medical plans that include the ten essential benefits mandated by the Affordable Care Act.    Under the health care law the federal government will offer Advance Premium (subsidy) Tax Credits to Individual and/or Families based on size of family and household income between 133% — 400%  of the Federal Poverty Guidelines.  


In 2017,  most individuals will be required to have health insurance coverage or pay a penalty when filing their annual taxes, if they don’t.   In 2017 the penalty will be 2.5 percent of annual household income or $695 per adult and $347.50 per child (up to a family household maximum of $2,085) whichever is greater for the total household.