Fee For Not Having Health Insurance

The fee for not having health insurance in 2016

The fee is calculated 2 different ways – as a percentage of your household income, and per person. You’ll pay whichever is higher.

2.5% of household income
Maximum: Total yearly premium for the national average price of a Bronze plan sold through the Marketplace

Using the percentage method, only the part of your household income that’s above the yearly tax filing threshold ($10,150 for individuals, $20,300 for couples filing jointly in 2014, the most recent year available) is counted.
Using the per-person method, you pay only for people in your household who don’t have insurance coverage.
If you have coverage for part of the year, the fee is 1/12 of the annual amount for each month you (or your tax dependents) don’t have coverage. If you’re uncovered only 1 or 2 months, you don’t have to pay the fee at all. Learn about the “short gap” exemption.
You pay the fee when you file your federal tax return for the year you don’t have coverage.

The penalty for 2015 is the higher of these:

2% of household income
Maximum: Total yearly premium for the national average price of a Bronze plan sold through the Marketplace

The penalty for 2014 is the higher of these:

1% of household income
Maximum: Total yearly premium for the national average price of a Bronze plan sold through the Marketplace