Here are five things to know:
1. The 2016 fine doubles the fine in 2015, which is $325.
2. The fine is designed to incentivize Americans to become insured. A person could receive six months or more of health insurance coverage for $695.
3. The fine has increased substantially since President Obama’s healthcare law went into effect. In 2014, the fine was $95.
4. About 7.5 million households paid the fine in the 2014 tax year, adding up to $1.5 billion in total.
5. The Obama administration wants 10 million people insured and paying premiums by the end of 2016. They hope to see the enrollment of three million to four million Americans who are uninsured.
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At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
