What is this penalty I keep hearing about if I don’t sign up for health insurance by 2014?
If you don’t have health insurance in 2014, you could have to pay a penalty on your federal income tax. In 2014, the penalty for individuals is the higher of two amounts — $95 or 1 percent of income. These penalties increase each year.
More Top Questions
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How does the new health care law help me?
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I have heard that October is important. What is so important about October?
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I heard Texas doesn’t have an exchange. Does that mean I don’t have to purchase health insurance?
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My 22-year old son just graduated from college, but doesn’t have a job. Will the new health care law help him be covered?
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My mom got turned down for insurance because of her diabetes. Will she be able to get covered under the new law?
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Now that I know open enrollment starts in October, what do I need to do to get ready?
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What if I can’t afford health insurance?
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What is this penalty I keep hearing about if I don’t sign up for health insurance by 2014?
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What’s happening in 2014?