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[Infographic] Increased penalties for 2016

Authored by Bukaty Companies on June 6, 2016

Most people wish they could avoid buying health insurance plans. Why not dodge the costs of insurance and save a little money for say…a new car?

Well, you might think you’re saving big bucks, but with the increased tax penalties in 2016, you might want to rethink this approach.

The individual mandate, announced in January, has increased the penalties for individuals by 7 times the amount in 2014. It has also changed the tax rate for wealthier families from 1% in 2014 to 2.5%. Ouch. Let’s just say that skipping out on insurance might not be in your best interest.

Find out how you can manage your open enrollment this upcoming season with Bukaty.

You can save money for that new car and avoid those painfully expensive penalties.

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Blog Category: Individual

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BUKATY PODCAST

Episode 12: Enrich your company's HSA benefits

Uncover the hidden benefits of health savings accounts (HSAs). Our in-house expert reveals why HSAs are the fast-growing employee benefit.

Episode 11: Regulation changes to know in 2020

Our compliance officer recaps the more significant regulatory from 2019 that will affect your business in 2020. 

Episode 10: Lower costs with a dependent audit

Verifying plan membership is valuable to your company's bottom line. As much as 10% of dependents on your plan could be ineligible for group coverage! Learn more about conducting a dependent audit in your organization.

Episode 9: Make open enrollment a breeze

Bukaty experts share their thoughts on how to avoid open enrollment complications. Planning and communication are key.

Episode 8: Avoiding employee lawsuits

Discover how your business could be at risk for lawsuits, and learn strategies to minimize your chances of getting sued. Our podcast guest shares HR tips you won’t want to miss.

Episode 7: Management training is more important than you realize

Don't leave your managers untrained and unprepared. This episode explores the importance of training your company leaders and how it can be detrimental to your business if you don't.

Episode 6: A benefits package for all ages

Rather than limit your company to an outdated one-size-fits-all benefit package, explore customized, generationally based benefit options for your employees. Each generation has different benefit preferences and Bukaty has the technology and benefit lineup to cater to their needs.

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