As April 15th looms closer, millions of Americans are filing their taxes. But according to a McKinsey & Company study cited by the Washington Examiner, almost half of the U.S. population is unaware of the Obamacare tax penalty:
“A McKinsey study this month found that 41 percent of uninsured Americans are unaware of the tax penalty, which will equal either $95 or 1 percent of income above the filing threshold — about $400 for a person earning $50,000.”
Many people who have filed were not aware of the tax penalty they had to pay. The Centers for Medicare and Medicaid Services admitted:
“We do know that there are some people … that didn’t learn about open enrollment and didn’t learn about the requirement to have coverage until they paid their taxes,” Andy Slavitt, principle deputy administrator at the Centers for Medicare and Medicaid Services, said last week.
“For many people, this will be the first time they discover they have the opportunity to get coverage for themselves and their families,” he added.
Unfortunately, for those who are not insured, the tax fines for remaining uninsured are set to increase from $95 or 1% of income for 2014, to $325 or 2% of income and by 2016 will increase to $1,100 according to Fox News.
Despite a large portion of the public being unaware of the tax penalties, the law continues to remain unpopular, Real Clear Politics reports:
Poll Source: Real Clear Politics
On top of its disapproval rating, Townhall reported on a Fox News poll that indicates a majority of people wish the law was never passed in 2009:
Image Credit: Fox News/Townhall
Now that the fines were implemented this year, support for the law continues to drop, putting the future of Obamacare in question.
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