Is the ObamaCare penalty for not having health insurance pro-rated based on how many months you are without it?
I was laid off from my job. Due to the fact that I made decent money and therefore am getting the higher end of unemployment I have been told I only qualify for a tiny amount of healthcare subsidy, which makes it unaffordable, as even the cheapest plan is more than I am spending on groceries a month! My understanding of the ObamaCare rules is that you can go for 2 consecutive months without health insurance. What if I am 3 months without health insurance and then land a job with health insurance? Am I charged the full penalty or is it pro-rated to account for the fact that out of a 12-month year I had 9 months of coverage? Help.
Answers | 3
Good luck with finding another job.