15

Dec

Today Is The Final Day To Enroll For Obamacare

 

Friday, December 15 is the final day of Obamacare open enrollment. This has been a tumultuous year for Obamacare (aka the Affordable Care Act), to put it lightly, with multiple efforts by the GOP-led Congress to repeal or otherwise gut the seven-year-old health law. But Obamacare is still the law of the land, Americans are still required to carry health insurance in 2018, and Friday is the last chance to sign up for health coverage through Healthcare.gov.

The Obamacare tax penalty is still currently in place—and you could face a financial hit that’s actually more expensive than simply buying a plan if you lack coverage in 2018.

Just how steep is the fine? For tax year 2017, it’s either 2.5% of your total household income, or $695 per uninsured adult and $347.50 per uninsured child (up to a maximum of $2,085)—whichever figure is higher.

This year’s Obamacare open enrollment push got off to an impressive start, with the pace of signups easily lapping last year’s. The final week is seeing a similar surge—but, unlike previous years, 2017 open enrollment is just six weeks rather than three months. And that means the overall number of enrollees is expected to dip compared with last year.

Another 4 million Americans would have sign up for 2018 health insurance plans in the final days in order to meet last year’s federal marketplace total of 9.2 million.