It's over in 8 days. We mean it this time!

The bureaucrats have changed their minds before. These are the last 8 days to buy health insurance for all those who 'didn't know' they would have to pay a penalty if they didn't have coverage. Smart, eh? Let the tax preparer tell you to go out and buy health insurance.

 

To answer the above question: Don't hold your breath.

The geniuses at Obamacare think they'll get more people covered by making it illegal to sell health insurance 305 days out of the year. 

Artificial scarcity. Usually, there are only 60 days in a year when people can buy individual/family health insurance. That is the 'open enrollment' period which runs from mid-October to mid-December. Unless political consequences get in the way and they move it (to avoid an issue with election fallout) or extend it (like they did the first year). Or re-open it as they did this year through April 30, 2015.

And there are about a dozen circumstances which allow for a 'special enrollment period' at other times of the year including my favorite: because we (the bureaucrats at the healthcare exchange) feel like it.

What happens if you don't buy health insurance?

For 2014, the penalty was $95 per person or 1% of yearly income per person (for the whole family) --whichever is larger.
In 2015, the fee increases to $395 per person or 2% of yearly income per person (for the whole family) --whichever is larger.
In 2016, the fee increases to $695 per person or 2.5% of yearly income per person (for the whole family) --whichever is larger.
The penalty is capped at the average yearly premium for a Bronze plan (the cheap plan), which is insurance that pays an average 60% of the cost of health care.
Children count half (each) and families are capped at 3x the above per-person numbers. So if it's a single parent with more than 4 kids... they're in luck!

So if you have a family with mom and dad and 3 kids... that's 2 x 2% (adults) + 3 x 1% (children) = 7%. That's 7% of their income. That's a huge chunk of money for a whole lot of nothing. Remember, that doesn't pay for coverage or anything else for them. It helps subsidize all those who get coverage for free or at greatly reduced cost.