While we do not pretend to understand the workings of the Affordable Care Act, we do understand that it will have a dramatic impact on both the health care industry and individual budgets, an impact that is difficult to calculate.

As a public service here at The Mint, we are embedding a calculator created by the Kaiser Family Foundation which will give individuals and families a general idea of how Obamacare will affect their premiums:

In any event, it is important to understand that, barring Congressional action to the contrary, anyone who does not have coverage in place before January 1, 2014, will pay a penalty on their tax return equal to $95 or 1% of their income, whichever is greater.

This penalty will first be assessed on 2013 income, meaning you must have a health plan in place before January 1, 2014 to avoid paying a penalty on your 2013 taxes.

Stay healthy and fresh!