At Forbes.com,outlines the income-dependent penalties (“taxes”) for not buying a legal medical insurance policy:
So just how much is that newtax going to cost you? For some people, a lot more than you have been hearing.
The individual mandate section of the health overhaul law outlines the structure of the “taxes” that must be paid by those who don’t buy government-approved health insurance – starting at $95 a year the first year for individuals. Many people are thinking it will be much cheaper to simply pay the tax than to buy policies that will cost thousands of dollars more. …
Surely every family will be making its own calculations and cost-benefit analyses involving the health insurance mandate. McKinsey & Company has reported that as many as 30 to 40 million Americans could forgo health insurance, with some figuring they can purchase a policy whenever they are facing expensive medical bills.