PPACA FAQ

What tax penalties apply to individuals who do not maintain minimum essential coverage beginning January 1, 2014?

The penalties increase over time:

• 2014 – Greater of $285 ($95 per adult and $47.50 per child) or $410 (1% of income over tax-filing threshold)
• 2015 – Greater of $975 ($325 per adult and $162.50 per child) or $820 (2% of income over tax-filing threshold)
• 2016 – Greater of $2,085 ($695 per adult and $347.50 per child) or $1,025 (2.5% of income over tax-filing threshold)