Insurers ask HHS to impose additional penalties for individual mandate

This week Politico reported that health insurers are asking Health and Human Services (HHS) to implement additional penalties on U.S. residents who do not acquire health insurance coverage beginning in 2014. Penalties assessed under the Affordable Care Act’s individual mandate begin at $95.

However, insurers are worried that the fee will not be enough to motivate healthier individuals to purchase coverage. America’s Health Insurance Plans, BlueCross BlueShield Association, the National Association of Health Underwriters and the American Academy of Actuaries all have urged HHS to impose late-enrollment fees to help prevent individuals from waiting to sign up for coverage until they become sick.