If you didn’t have insurance in 2014, and you didn’t qualify for one of the exemptions (See “Who must enroll? What if I don’t?”), you will have to pay a penalty when you file your taxes at the end of the year. The penalties increase each year.
For 2014, you will pay either $95 per adult and $47.50 per child, or 1 percent of your family income, whichever is greater.
In 2015, the fines begin at $325 per adult and $162.50 per child, or 2 percent of your family income, whichever is greater.
In 2016, the fines increase to as much as $695 per adult and $347 per child, or 2.5 percent of family income, whichever is greater.
After 2016, the penalties will be adjusted based on inflation.
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Last Updated On
November 06, 2014