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Improving Your Financial Life

Blog > 2014 > November > Why Health Insurance?
November 20, 2014

Why Health Insurance?

by admin


Guest post by Todd McLaughlin, Advisor at Apex benefits

Individual Mandate

Health insurance is important because it protects you from large medical bills and gives you coverage for preventive care. The Affordable Care Act (ACA) also provides an incentive to obtain insurance: a penalty for not having coverage.

The ACA’s individual mandate requires most people to have health insurance, or pay a penalty tax.

  • For 2015, the penalty for not having medical coverage is either 2 percent of your yearly household income or $325 per person ($162.50 per child under 18).
  • The fee will be whichever of these two options is higher, and it will increase in the coming years.

If you have to pay a fee, make it worthwhile by putting it toward health coverage premiums! Talk to a certified Agent today and know your options.

For more information about the Marketplace or for help selecting and individual insurance plan contact Todd at or 317-806-5149 today.

Category: Money Smart
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