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Becker & Associates

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I had No Ins. Most of 2015, What is My Penalty?

Posted on July 30, 2015 at 1:35 PM

No Insurance?  The penalty for 2015, 2016 and beyond...OUCH!

For those individuals who did not haveinsurance for any number of months during 2015, the penalty will be $325. per adult and $47.50 per child up to $285 for a family OR 2% of the family income, whichever is greater.

Next year it gets higher, for 2016 and beyond the penalty is $695. per adult and $347.50 per child up to $2085. per family OR 2.5% of the family income.  This penalty will increase each year with a "cost of Living" adjustment.

Categories: Life,Death and Illness & Injuries Happen, Be Ready!

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