With the original Senate bill that was passed, and according to an analysis by the Congressional Budget Office, American families will be required by federal law to buy a federally approved health insurance plan that will cost a minimum of $12,000 per year with an average cost closer to $15,000 per year.
If a family earns more than $88,200 a year (or whatever 400 percent of the poverty level equals in any given year), they are on their own for the cost. The Senate bill does not require employers to purchase health insurance for their workers but will penalize them if they don’t. The maximum penalty would be $750 per year for each worker they did not insure who subsequently received a federal subsidy to buy insurance. As you can see, the penalty is less than the cost of even a basic insurance plan and will therefore be taken by many companies.
Based on the analysis by the CBO and the statement by CBO Director Douglas W. Elmendorf in a letter to Sen. Olympa Snowe (R-Maine), the “Average premiums among all types of plans in 2016 would be about $5,800 for single policies and about $15,200 for family policies,”