Give them the option of paying for their portion. Otherwise, if they are of adult age, tell them they will have to get their own plans. Give them time to look into it and choose - 30 or 60 days. Every plan is different as to when the insurance company kicks them off the plan. Either read your policy or call your agent and ask.
The reason health insurance in America is so expensive compared to other countries is that about 30% of the medical costs are related to our legal system, the customer has no link to the actual cost of procedures (only to their premiums and out-of-pocket) and we receive a level of medical care that is not given to people in socialized medical countries. For instance, an American woman was hit by a cab in London. She walked to the hospital and waited in reception. An unseen receptionist told her to raise her arms over her head, then said "Nothing is broken - go home and come back if there are complications."
It's gone. As of 2018 there will be no fine if you don't have insurance. I won't get into the price you would pay without insurance if something bad were to happen...
Answers & Comments
It shouldn't be the penalty you're worried about. It should be needing health insurance and not having it.
until next January But one serious accident or illness could be MORE expensive
January 2019.
It ends with the 2019 tax year, filing in 2020. The penalty for not having insurance is in effect for 2018, filing in 2019.
Give them the option of paying for their portion. Otherwise, if they are of adult age, tell them they will have to get their own plans. Give them time to look into it and choose - 30 or 60 days. Every plan is different as to when the insurance company kicks them off the plan. Either read your policy or call your agent and ask.
The reason health insurance in America is so expensive compared to other countries is that about 30% of the medical costs are related to our legal system, the customer has no link to the actual cost of procedures (only to their premiums and out-of-pocket) and we receive a level of medical care that is not given to people in socialized medical countries. For instance, an American woman was hit by a cab in London. She walked to the hospital and waited in reception. An unseen receptionist told her to raise her arms over her head, then said "Nothing is broken - go home and come back if there are complications."
If your teenagers are minors (under 18) then you are still responsible for paying for their medical care.
If one of them has a single semi-major accident like a broken bone, is the insurance less expensive than the medical care.
What if one of them has appendicitis? Do you have $30000 to pay the bill?
Please don't be penny-wise and pound-foolish.
If your teenagers are over 18, you never had to cover them in the first place unless they are your tax dependents.
The mandate will end with the 2019 tax year. As of now you must still have coverage or you'll pay a tax penalty when you file your 2018 taxes.
It's gone. As of 2018 there will be no fine if you don't have insurance. I won't get into the price you would pay without insurance if something bad were to happen...
You can kick them off now. The mandate is just for everyone to have a way to pay the doctors so government don’t have to do it.