You must have health coverage or pay a tax penalty.
Most individuals will have to have health insurance coverage. If you don't, you will pay a tax penalty on your federal income tax return at the end of the year. How much? In 2015 it's 2% of your income or $325 per person. In 2016 and later years it's 2.5 percent of income or $695 per person.
You will be able to get insurance, even if you've been turned down before.
You are guaranteed health insurance coverage, even if you have a serious or long-term condition, illness or injury. It doesn't matter if you've applied before or have been turned down for coverage.
You may qualify for a break on your insurance premiums.
Those who make less than four times the Federal Poverty Level may qualify for a break on their insurance premiums. Depending on your income and household size, you could pay as little as $0 each month. Use our online premium assistance tool to see if you may qualify for premium assistance.
Many health insurance plans will include broader benefits.
Preventive and wellness services will be covered by your insurance at $0 when you go to an in-network provider. In other words, when you go to the doctor, you won't pay for these services out-of-pocket if you go to a doctor in your network.
Other important points about the healthcare system:
No more annual or lifetime dollar limits on essential benefits
Insurance plans cannot put annual dollar limits or lifetime dollar limits on the amount of claims they pay for essential benefits.
Health Insurance Reforms
The new rating factors in the individual and small group market are only based on age, where you live and smoking status. Premium is not based on your health.
Acceptable Coverage Required
If you do not have health insurance coverage, you may be charged a penalty of at least $325 in 2015 and $695 in 2016.
Do I Qualify For Premium Assistance? »Use this tool to see if you'll qualify for a break on your health insurance premiums. This tool will give you a good idea about whether you can expect a subsidy, but is not official. Only the government can tell you if you officially qualify through the Health Insurance Marketplace beginning November 15, 2014.