For those who don't have employee benefits and haven't sought out a health plan on their own or through the exchanges, they may have to pay a fine of $95, or 1 percent of their income. For many, this cost isn't enough to compel them to purchase coverage, but it likely would be if the price were 10 times higher, according to newly released survey data.
In a poll of approximately 4,800 uninsured Americans, less than half – 47 percent – said that they would be more likely to buy health insurance if they were charged with a $95 penalty, Gallup found. Meanwhile, 46 percent said that they would pay a fine.
However, if they had to pay a penalty of $1,000, more than six in 10 said that they would be more apt to purchase a health policy. Only 28 percent said that they would probably still assume the cost of not purchasing coverage.
When the Patient Protection and Affordable Care Act was signed into law in 2010, legislators attached a provision to the bill, requiring individuals who fail to comply with the mandate a fine of 1 percent of their taxable income or $95. If they continue to go without coverage, the penalty increases to $325 next year and just under $700 in 2016.
Charlie Ricther and Stafford Nichols, methodologists at Gallup who worked on the analysis, noted that the potential implications of this poll are that more people may opt to sign up for coverage in the years ahead in order to avoid the financial hit.
Still, the penalty is a small price to pay for some when taking into account what the price would be for a plan.
Steve Huber, a 57-year-old salesman from Kentucky, told The New York Times that money issues make it impossible for him to purchase coverage.
"I realize that I'm gambling," said Huber. "But I don't have a lot of patience, and I'm on a pretty tight budget anyway."
