If someone who can afford health insurance doesn't have coverage in 2014, they may have to pay a penalty. The penalty is calculated in 2 ways. You'll pay whichever of these amounts is higher:
The penalty fee increases every year. To calculate your penalty if you do not plan on purchasing insurance, click on the link below:
Most people must have health coverage or pay the penalty. However, you can get an exemption in certain cases.
To see if you qualify for an exemption from the penalty, click on the link below:
The Affordable Care Act understandably raises many questions. One thing that is clear is that for tax purposes, it is very important to have health insurance coverage.
To find more answers, click on the link below: