Jackie Perlman, with H & R Block, says your income from 2012 will help determine if you qualify for assistance, once the Affordable Care Act is implemented.
“If your income falls within a certain range you would be subsidy eligible,” says Perlman. “It’s based on the federal poverty level. For a married couple with two children that is income of a little over $90,000.”
People who fall within 400-percent of the federal poverty level will likely qualify for assistance. That means you'll pay your portion of the deductible out of pocket and the government will send your provider a check for the rest.
Perlman says those who don't have healthcare coverage will be charged a penalty when they file their taxes next year.
“The penalty is paid as an additional tax on your tax return,” says Perlman. “The penalty is 95 dollars a person or one-percent of your household income. It’s the higher of the two.”
Tax experts say it makes more sense to purchase insurance and get your benefit in case of emergency, than simply pay the tax and never receive proper care.