Majority of Households Paying Obamacare Penalty Are Low and Middle-Income

Wednesday, October 11, 2017 | Tag Cloud Tags: , , , , ,

(Worthy News) - The majority of households paying the Obamacare penalty in 2015 were low- and middle-income households, according to the most recent data from the Internal Revenue Service.

The Affordable Care Act individual mandate requires that Americans pay the individual shared responsibility payment, otherwise known as a penalty or a tax, if a household or individual fails to have health care coverage.

There were 6,665,480 households who chose to pay the Obamacare penalty in that year rather than signing up for Affordable Care Act coverage. They paid a total of $3,079,255,000.

Of the 6.7 million households who chose to pay a penalty, 37 percent—2.5 million households—earned a salary less than $25,000 per year. There were 5.2 million households that earned a salary less than $50,000 per year who decided to pay the penalty, which totaled 79 percent of households paying the penalty. Finally, 92 percent of the households—6.1 million households—paid the penalty and earned less than $75,000 a year. [ Source: Washington Free Beacon (Read More...) ]

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