Uninsured and the Tax Penalty
SURVEY: 41 PERCENT OF THE UNINSURED DON'T KNOW ABOUT THE PENALTY
And when they do learn about it, 30 percent said they'd change their mind and get insurance. The majority of the rest, though, say the penalty is still cheaper. That's all according to a new study from McKinsey's Center for U.S. Health System Reform, which in late February surveyed about 3,000 Americans who are uninsured but eligible for coverage or who are individually insured through the ACA. Those persistently uninsured, for the most part, are basing their decision on cost: 71 percent who shopped for coverage but decided against it cited affordability as the reason. About 88 percent of that category were unaware of their subsidy amount. Of the folks who did take advantage of open enrollment this year, 41 percent renewed and 35 percent switched from one ACA plan to another. About 12 percent were newly insured, and 13 percent switched from non-ACA plans to the ACA, they found.
The full study can be viewed here, along with other interesting insights into consumer behaviors: