Exemptions to the Individual Mandate
There are some cases where there is no penalty to not having coverage.
The company will not raise your premium just because you are getting older. Your premium will always be based on your age when you purchased the policy, but it will be adjusted for other factors, like inflation. If you buy a plan at age 65, you will always pay the current premiums charged to 65-year old customers, regardless of your current age. Issue age policies can be more costly up front but also can save money in the long run.
For rates determined by attained age, the premium will increase as you get older. If you buy a plan at age 65, you may have a premium increase each year.
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