1. Brandon RobertsPRO
    Owner, The Insurance Pro Blog,
    No it is not illegal to not have health insurance in New Jersey.  Under the Patient Protection and Affordable Care Act of 2010 (PPACA, aka Obamacare) there will be a federal mandate to acquire health insurance that will result in penalty taxes imposed on income for individuals who do not acquire health insurance. 

    The extent of this penalty tax will decrease over the course of the next several years.
    Answered on August 25, 2013
  2. Jason GoldenzweigPRO
    Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Haymarket, Virginia
    No. Under the affordable care act, if you do not want to have health insurance, you can elect to pay a penalty (also known as an "individual shared responsibility payment"). If you choose to pay the penalty instead of securing coverage, you will still be responsible for 100% of your medical care. The penalty is calculated in one of two ways (you pay whichever is the higher amount).

    In 2014, the penalties will be calculated as:
    1) 1% of your yearly household income – featuring a maximum penalty as the national average yearly premium for a bronze plan.
    2) $95 per person for the year (If under age 18, then $47.50) – featuring a maximum penalty per family of $285 under this method.

    The penalty calculations will change each year. In 2015, method one increases to 2% of your yearly household income and method two increases to $325 per person. In 2016, it will increase again to 2.5% for method one and $695 per person for method two. The penalty methods will be adjusted for inflation in later years.

    I hope the information is helpful - please feel free to contact me for help with your coverage or if you have any other questions. Thanks very much.
    Answered on July 2, 2014
  3. Jim WinklerPRO
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is a great question! While it is not technically illegal to not have health insurance coverage, the Affordable Care Act (Obamacare) does impose penalties on those who choose to remain uninsured. The purpose behind having people insured is to greatly lower the costs of health care. When someone without insurance seeks medical care, the cost for that treatment is passed on to all the other people who seek treatment in the form of higher prices. Insuring them returns that cost to them, and the insurance company. Also adding more healthy people to the pool lowers costs, as there is more money going in, and less going out, lowering costs. I hope that helps, thanks for asking!
    Answered on July 3, 2014
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