Letting Health Insurance Lapse in Florida Before Looking For New Plan During Open Enrollment
Hey guys, 30y/o very active, healthy male living in Miami making around $70k a year. Last January I signed up for an Oscar plan through the marketplace ~$200/mo. Ended up updating my income mid-summer due to raise and plan jumped to $280, which is out of my budget for health insurance. My premium is due towards the end of the month and planned on not paying/letting it lapse before looking to get a new plan during open enrollment 11/1. Is there any penalty for this? Will I be penalized when doing my taxes next year? My income has increased yet again, and clearly if I update with this plan I will be well over $300/mo. I do receive bonuses based on overall company sales every month and fairly certain my income is already over what I've claimed within the marketplace since summer, will I also be penalized? Want to ensure I'm doing this all correctly, saving as much money as possible, and do not get slammed with any fees when doing my taxes. My plan came in handy this year for mental health benefits, bronchoscopy ($80k bill, paid $600), ringworm treatment (jiu jitsu), getting ears drained, and physical. Thanks for your help.
submitted by /u/SirWelIington
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