What Happens if I Don’t Have Health Insurance?

It's important to know that if you can afford health insurance but decide not to buy it, you will have to pay a fee.

The ACA's individual mandate requires that everyone in the U.S. has to have health insurance, unless you qualify for an exemption.


How do I find out if I qualify for an exemption? 

Exemptions are available for a variety of reasons: certain life events, health coverage or financial status, group membership, and more. 


How much will I have to pay in fees?

In 2016, the fee for not having health insurance is calculated in one of two ways; 

  1. Percentage of income: 2.5% of your total household adjusted gross income
  2. A flat rate: Adult - $695. Child (under 18) - $347.50 this is to a maximum of $2,085.

Whichever is greater is the amount you’ll pay.


Are the fees the same for 2017?  

Yes and no. For 2017 and onwards, the percentage option will remain at 2.5%, however the flat fee will be adjusted for inflation and to encourage people to buy coverage.


When will I have to pay the fee?  

You will pay the fee when you file your federal tax return for the year you don’t have coverage.


If I’m unemployed, do I still have to pay the fee?

It depends on your household income. If insurance is unaffordable to you based on your income, you may qualify for an exemption from the fee. Talk to a health insurance agent for more information.


Start your Texas health insurance quote here.


If you have a question we encourage you to contact the Wilkerson Insurance Agency at 214.501.9613  By providing professional insight, guidance and superior customer service, it is our goal to create long lasting relationships with our clients.         


WilkersonInsuranceAgency.com                                                                                                                                                              Coppell, TX 75019 | Phone: 214-501-9613