Published on October 25th, 2013 |1
How To Opt Out of ObamaCare Without Paying the Fine
An interesting strategy. Check it out:
Less than two-hours ago, I submitted a revised W-4 form to our payroll department. My goal is to avoid being in a position where at the end of next year I am owed a refund from the federal government. As an act of civil disobedience, I am refusing to purchase health insurance. This means that I am subject to a tax/fine of 1% of my income (2% the following year, 2.5% thereafter). But the beautiful thing is that unless I am owed a tax refund, the government will never get any of that money.
My decision to not purchase health insurance is a decision a lot of people — possibly millions — are going to make, either out of protest, or once the ObamaCare site is up and running and they finally get a look at the increased cost of their monthly premiums under the Orwellian-named Affordable Care Act.
For those of you who — for whatever reason — will not be buying health insurance next year, remember that you legally do not have to pay that fine if you legally make sure that at the end of the year you are not owed a refund from the federal government.