Starting in 2014, the Affordable Care Act will require most Americans to have health insurance.
For those hoping to get insurance through employers-here's some important news: Businesses with 50 or more employees have been issued an extension, and will not be required to provide health insurance to their employees until 2015. If your employer chooses not to offer insurance, you may be able to apply for subsidized coverage.
According to a Gallup poll, not everyone is aware of the new requirement, which is also known as an individual mandate. Although the poll showed most Americans were familiar -- 43% of uninsured Americans -- the population who'll be most affected by the change were unaware of it.
Whether we're all prepared or not, the change is coming. Here's what will happen if you fail to meet the requirement.
In 2014, An uninsured adult will be asked to pay the Federal Government 95 dollars. The penalty for an uninsured child will be 47.50.
It could be up to 285 dollars for a family, or 1% of the family income, whichever is greater.
Following 2014, the penalties are scheduled to increase.
For more on healthcare changes, visit www.transforminghealth.org.
