Ok, California, this time it’s for real.
Covered California announced late last week that a new law will require all California residents to have health insurance or pay a penalty—which could be over $2000!
Covered California states:
Beginning January 1, 2020, a new law requires all California residents to have health insurance or pay a penalty. This is separate from the “zeroed out” federal penalty, and your consumers should know the penalty for a family not having insurance in 2020 could be $2,000 or more. Of course, the greatest penalty is choosing to go without insurance and then receiving an emergency hospital bill of more than $100,000 or not catching a disease in time.
To help you understand this law and how to calculate the 2020 penalty, Covered CA and the Franchise Tax Board have developed the 2020 Individual Mandate Penalty Fact Sheet.
Know where you stand!
This law is important and will affect every California resident, so make you sure understand the law or that you know how to calculate your penalty.
More importantly—make sure you have health insurance! Contact us today and let us help you make sure you’re covered and ready.
Questions about the new law?
If you don’t have health insurance or you’re unsure about what the new law means for you, contact us today for a FREE consultation.