Question: If I don’t have health insurance in 2016, how much will I pay?

If your able to afford health insurance but choose not to buy it, you must pay a fee called the individual shared responsibility payment. Also known as a Penalty or Fine

  • For any and every month that you do not have health insurance, you will owe the fee.
  • You pay the fee when you file your federal tax return for the year you don’t have coverage.
  • Do you qualify for health coverage exception? Read more:  https://www.healthcare.gov/exemptions-tool/

What is the fee for not having health insurance?                                                            

The fee is calculated 2 different ways – as a percentage of your household income, and per person. You will pay which ever is higher. 
For tax year 2016, the penalty will rise to 2.5% of your income, or $695 per adult and $347.50 per child, to a maximum of $2,085.
For tax year 2017 and beyond, the percentage option will remain at 2.5%, but the flat fee will be adjusted for inflation.
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