4 in 10 would rather pay fine than buy insurance - New York News

4 in 10 would rather pay fine than buy insurance

Posted: Updated:

According to a new poll of 1,013 adults by Princeton Survey Research Associates, 38% say they would pay the mandate tax and forgo buying health insurance. That finding is higher than the 28% who are uninsured who recently told Gallup they’d pay the tax instead of buying coverage. 

The results also found widespread confusion about the mandate tax. Overall, the findings have implications for health reform, as the White House is pressing people to sign up.

Princeton also found 65% of Americans between the ages of 18 and 29 would buy health insurance versus 57% of Americans 30 and older.

“One of the key questions surrounding the Affordable Care Act is whether or not young Americans – especially healthy young Americans – will sign up for health insurance,” Laura Adams, insuranceQuotes.com’s senior analyst said in a statement. “This research sheds a positive light on that segment of the population. However, it’s concerning that about three in 10 Americans still don’t know about the possible fines.”

The results reflect Americans’ responses to a hypothetical scenario of a 45-year-old individual who earns $50,000 per year. A typical health plan would cost this person $3,000 per year, a statement about the poll says, adding that the mandate tax would be about $400 if this hypothetical person did not buy health insurance.

The report also found that most Americans are confused about the mandate tax amounts and who is required to buy health insurance. Here are other highlights, according to the release:

--74% of Democrats would buy health insurance versus 40% of Republicans and 56% of independents. That finding tracks Gallup’s recent poll numbers, which appear to indicate some Americans may eschew health insurance due to ideological reasons. Gallup found 15% of uninsured Democrats say they plan to pay the mandate tax, but almost half, 45%, of uninsured Republicans say they will pay the fine and not buy health insurance.

--Many Americans are confused regarding the penalty amounts, which are the greater of $95 or 1% of household income above the filing threshold ($10,000 for individuals and $20,000 for families).

--For an individual who earns $30,000 per year, the penalty would be $200. But only a fifth of respondents who knew that uninsured people will be taxed correctly pegged the tax between $100 and $250 (38% overestimated and 36% underestimated).

--For an individual who earns $75,000 per year, the penalty would be $650. Only 21% of Americans who know about fines correctly pegged the amount between $500 and $1,000 (46% underestimated and 29% overestimated).

--Almost eight in 10 Americans who know about the mandate tax incorrectly think that children under the age of 18 are exempt from it. Six in 10 falsely believe that senior citizens over the age of 65 are exempt.

--Only 64% correctly said the mandate tax would come from their federal income tax refund.

Elizabeth MacDonald joined FOX Business Network (FBN) as stocks editor in September 2007.

READ MORE: http://www.foxbusiness.com/industries/2013/12/11/4-in-10-would-rather-pay-fine-than-buy-insurance/


You might also like...

SHOCK: $120K of Hershey's Chocolate Stolen!!!!!!

HERO: Dad Keeps Family Alive In Snow!!!!

COP: DC Cop Prostitution Charges!!!!!

PICS: Taking Pictures May Impair Memories??!!!!

SHOCK: Bull Sharks Caught Near DC!!!!

CRASH: Cop Car Smashes Bumblebee at 'Transformer' Filming!!!!!


Like us on Facebook
  • Viral StoriesMore>>

  • Lane marking mess on I-66 eastbound near Centreville, Va.

    Lane marking mess on I-66 eastbound near Centreville, Va.

    Monday, August 25 2014 6:20 PM EDT2014-08-25 22:20:44 GMT
    It was commuter confusion out on Interstate 66 Monday morning. Drivers heading eastbound towards Washington D.C. wound up seeing their traffic lanes suddenly turn into a mess. Lane stripes somehow pulled away from the road surface and created a mess of tangled tape and lanes that didn't make sense.
    It was commuter confusion out on Interstate 66 Monday morning. Drivers heading eastbound towards Washington D.C. wound up seeing their traffic lanes suddenly turn into a mess. Lane stripes somehow pulled away from the road surface and created a mess of tangled tape and lanes that didn't make sense.
  • New marijuana drug 'Wax' looks and feels like lip balm

    New marijuana drug 'Wax' looks and feels like lip balm

    Friday, August 22 2014 7:52 PM EDT2014-08-22 23:52:09 GMT
    It goes by the name Wax, Butter and Honeycomb on the streets, and it can pack a kick equal to 15 to 20 joints of marijuana. The new drug looks and feels like lip balm. It's made from the oils of marijuana plants and has a high level of THC - the chemical that produces a high.
    It goes by the name Wax, Butter and Honeycomb on the streets, and it can pack a kick equal to 15 to 20 joints of marijuana. The new drug looks and feels like lip balm. It's made from the oils of marijuana plants and has a high level of THC - the chemical that produces a high.
  • Oklahoma policeman accused of sex assaults on duty

    Oklahoma policeman accused of sex assaults on duty

    Friday, August 22 2014 11:36 AM EDT2014-08-22 15:36:23 GMT
    An Oklahoma City police officer was arrested Thursday and is being held in lieu of $5 million bond after being accused of committing a series of sexual assaults against at least six women while on duty.
    An Oklahoma City police officer was arrested Thursday and is being held in lieu of $5 million bond after being accused of committing a series of sexual assaults against at least six women while on duty.
  • Local NewsLocal NewsMore>>

  • NYC Denny's features $300 breakfast

    NYC Denny's features $300 breakfast

    Friday, August 29 2014 8:47 AM EDT2014-08-29 12:47:22 GMT
    Diner chain Denny's is opening it's first New York City location, complete with a big-city "deal".   How does a $300 breakfast sound?    The Denny's is located at the corner of Nassau and Spruce in Lower Manhattan's Financial District.  Along with its normal food you can get at just about any location in the rest of the country, this location will offer a Grand Slam breakfast with a bottle of 2003 Dom Perignon champagne.
    Diner chain Denny's is opening it's first New York City location, complete with a big-city "deal".   How does a $300 breakfast sound?    The Denny's is located at the corner of Nassau and Spruce in Lower Manhattan's Financial District.  Along with its normal food you can get at just about any location in the rest of the country, this location will offer a Grand Slam breakfast with a bottle of 2003 Dom Perignon champagne.
  • Security stepped up for Electric Zoo Festival

    Security stepped up for Electric Zoo Festival

    Friday, August 29 2014 8:34 AM EDT2014-08-29 12:34:04 GMT
    Festival goers to one of the most popular events of the summer in New York City will see major changes this weekend.  The Electric Zoo festival featuring headliner David Guetta takes place Saturday and Sunday on Randall's Island. Organizers are expecting 45,000 people, daily. Last year's party was cut short after the deaths of  Olivia Rotundo, 20, of Providence, R.I. and Jeffrey Russ, 23, of Rochester, N.Y. 
    Festival goers to one of the most popular events of the summer in New York City will see major changes this weekend.  The Electric Zoo festival featuring headliner David Guetta takes place Saturday and Sunday on Randall's Island. Organizers are expecting 45,000 people, daily. Last year's party was cut short after the deaths of  Olivia Rotundo, 20, of Providence, R.I. and Jeffrey Russ, 23, of Rochester, N.Y. 
  • Joan Rivers remains in NYC hospital

    Joan Rivers remains in NYC hospital

    Friday, August 29 2014 7:54 AM EDT2014-08-29 11:54:57 GMT
    Hollywood legend Joan Rivers, 81, remains in critical but stable condition at The Mount Sinai Hospital in Manhattan. The comedian and TV host was undergoing an outpatient procedure at a clinic on the Upper East Side on Thursday when she went into cardiac arrest and was rushed to the hospital. Her daughter, Melissa Rivers, issued a statement saying her mother was "resting comfortably."

    Hollywood legend Joan Rivers, 81, remains in critical but stable condition at The Mount Sinai Hospital in Manhattan. The comedian and TV host was undergoing an outpatient procedure at a clinic on the Upper East Side on Thursday when she went into cardiac arrest and was rushed to the hospital. Her daughter, Melissa Rivers, issued a statement saying her mother was "resting comfortably."

Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices