If you choose not to buy health insurance but can afford it; then you are required to pay a fee. The fee is called the “Individual Shared Responsibility Payment.” This fee can sometimes be called or referred to as the “Individual Mandate,” or “Fine” or “Penalty.”
There are 2 different ways the fee is calculated.
You pay whichever is the higher of the 2. This fee also will rise with inflation in the upcoming years.
Percentage of Household Income:
Percentage per Person:
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