Affordable Care Act
Why Going Uninsured Can Be a Costly Mistake
Mar 17, 2014 - 12:43:31 PM
This year, the tax penalty for going uninsured is 1 percent of a household's income or $95 per adult ($47.50 per child), whichever is greater. However, the cost of going uninsured will likely be much higher than the cost of the tax penalty because people who choose not to buy insurance will also be fully responsible for all medical expenses. Those can add up quickly. For example, one trip to the emergency room for a sprained ankle costs on average $1,498, according to a study from PLOS ONE. For many Americans, that is two months of rent.
"Unexpected medical bills can be financially devastating," said Michael Mahoney, senior vice president of consumer marketing at GoHealth. "Accidents and diseases don't discriminate, so it's crucial to protect yourself and your family."
Unless you have a qualifying life event like a marriage, you will not be eligible to enroll in a major medical health insurance plan after March 31. Even if you get sick and decide you want insurance to help cover costs, you must wait until the next open enrollment period on November 15. You may enroll in a short-term plan, but those plans may lack benefits and be more expensive.
GoHealth wants Americans to know that tax subsidies are available until March 31 to make health insurance more affordable. Consumers can shop online on GoHealthInsurance.com or connect with a GoHealth Licensed Insurance Advisor by phone in a matter of seconds to learn about their coverage options and purchase a plan before it's too late.
"Our goal is to educate our consumers. We want them to know that they have access to information through our licensed insurance advisors and our website to help compare options and avoid paying the tax penalty," said Clint Jones, CEO of GoHealth. "GoHealth is here to help consumers determine which plan saves them the most money and provides them with the right coverage."
For more information or to shop and enroll in a 2014 plan before the national open enrollment ends on March 31, please visit www.GoHealthInsurance.com or call GoHealth at(888) 322-7557.
GoHealth and its customer-facing website GoHealthInsurance.com makes shopping for health insurance simple. GoHealth's technology enables consumers across the United States to easily compare pricing and benefits of a variety of quality health insurance plans. Based in Chicago, GoHealth works with more than 300 health insurance carriers and more than 10,000 licensed agents nationwide to offer consumers a customized shopping experience. Since the company's founding in 2001, the GoHealth platform has helped more than 30 million Americans shop and compare health insurance quotes.
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