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The Affordable Care Act (Obamacare): If You Do Not Have Health insurance (Uninsu

Health Insurance Requirement (And Tax Penalty For Not Obtaining Health Insurance)

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Health Reform 2010 requires citizens and legal residents to have qualifying health coverage starting in 2014.

People who do not have coverage will pay a tax penalty. The penalty is the greater of $695 per year up to a maximum of three times that amount ($2,085) per family or 2.5% of household income.

The penalty will be phased in according to the following schedule:

Year Amount of Penalty

2014 $95 or 1% of taxable income

2015 $325 or 2% of taxable income

2016 $695 or 2.5% of taxable income

Beginning after 2016, the penalty will be increased annually by the cost-of-living adjustment.

Exemptions will be granted for:

  • Financial hardship
  • Religious objections
  • American Indians
  • People without coverage for less than three months
  • Undocumented immigrants
  • People in jail
  • People for whom the lowest cost plan option exceeds 8% of an individual's income
  • People with incomes below the tax filing threshold (in 2009 the threshold for taxpayers under age 65 was $9,350 for singles and $18,700 for couples)

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