Prime Therapeutics releases guide on health insurance

Prime's health insurance guide urges people to enroll or otherwise pay steep penalties. | File photo

Prime Therapeutics has released a guide on how to enroll in health insurance to avoid tax penalties.

Due to the Affordable Care Act, it is mandatory for everyone to sign up for health insurance or face steep penalties. Individuals who did not sign up for insurance in 2016 ended up paying 2.5 percent of their household income in penalties, amounting to $695 per adult and $347.50 per child, with a maximum of $2085.

To avoid 2017 tax penalties for not signing up for health care, everyone must sign up before the Dec. 15 deadline. The percentage penalty option will remain at 2.5 percent next year, however, the flat fee will adjust according to inflation. The penalty per month without insurance is one-twelfth on the annual penalty.

Prime Therapeutics lays out the many ways people can go about signing up for insurance. This includes through their employer, with an individual plan, through public exchange, through Medicare and through Medicaid.

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Prime Therapeutics LLC 1305 Corporate Center Dr Eagan, MN 55121