Tag Archives: How much is Affordable Care Act Penalty?

What is the Affordable Care Act Penalty?

Question:  What is the Affordable Care Act Penalty?

Answer:   For 2016, the penalty for people without health care insurance coverage is $695 per adult and $347.50 per child (up to $2,085 for a family), or 2.5% of family income, whichever is greater.

The important thing to remember is that if you do not get any health insurance coverage, you may be subject to pay the Affordable Care Act penalty and still be responsible for 100% of the cost of your medical care.

Do I have to pay a penalty if I have no insurance?

Question: Do I have to pay a penalty if I have no insurance (No Obamacare or No Affordable Care Act?)

Answer: If you do not qualify for an exemption from Affordable Care Act and decide not to buy insurance, you will have to pay a penalty.

In 2014, the penalty is 1 percent of your annual household income or a fee of $95, whichever is greater.  There is a cap of the 1 percent penalty.  Imagine Bill Gates not having insurance and penalty a 1% penalty on his income.  The maximum penalty is the premium for your household size for the national average of the Bronze plan.  For 2014, the maximum annual penalty was $2,448 per individual up to $12,240 for families of five or more.