Do we have to buy health insurance?

Individuals without minimum health insurance coverage will be liable for a penalty starting in 2014.

In 2014, health care plans will need to conform to one of five benefit levels:
bronze, silver, gold, platinum and young adult

The bronze coverage provides coverage that is actuarially equivalent to 60 percent of the full actuarial value of the essential health benefit package. Silver coverage has a 70 percent actuarial value, gold coverage 80 percent, and platinum coverage 90 percent.

Young adult policies for those under age 30 would be a catastrophic-only (just as we have now). The healthy people under age 30 would be excluded from the over-30 risk pool. This in turn means that the middle-age people would not have the very healthy young people to lower the costs, thus driving up premiums.

Americans who are currently covered by Medicaid, Medicare and other government programs will continue to be covered.