An expected four million people in the U.S can be fined for failing to buy individual health insurance by the year 2016. This is when when the health care overhaul law will be in full force. According, to the CBO forecast on Thursday.
United States citizens must buy health insurance and abide by the individual health insurance mandate set forth in the landmark legislation passed by Congress last month. If citizens do not comply they will face fines. People without coverage can be fined up to two and a half percent of their personal income.
The Congressional Budegt Office also forecasted that the government will collect close to $4 billion annually from these penalties between the years 2017 and 2019.