Open enrollment for the Affordable Care Act, or ACA (but better known as Obamacare), will kick off for its second year in only three weeks from now. Of course, things will be a lot different this time around. Insurers and the federal health exchange, Healthcare.gov, have a year of experience under their belts, so the expectation is they’ll be better equipped to handle an influx of enrollees. In addition, the enrollment period itself is a lot shorter, lasting just three months this year, compared to six months last year.
Also, the penalty for violating the individual mandate and not purchasing health insurance has gone up, with an individual responsible for paying the greater of $325 or 2% of your annual income. The $325 minimum penalty is a full 242% higher than in 2014, and will act as an extra incentive to get pr...
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