DID YOU KNOW?
In 2014, The Affordable Care Act mandated that all Americans must have health insurance or face a tax penalty. If you're uninsured for longer than 3 months and your employer does not provide Health Insurance benefits, you will be penalized.
2.5% of your annual household income: This penalty is calculated based on the amount of income above the tax filing threshold
$695 for the year – per person: The maximum penalty for one family is $975. For each child under 18 years old, the penalty is $347.50