Things You Should Know About Penalty for No Health Insurance

The penalty for no health insurance triggers people to spend much money from their pocket. Moreover, they have to pay all the health services by themselves. Preparing about health coverage fee must be thought twice in order to the whole family can be protected in a fast and affordable way. The reckless decision brings a person to serious injury or ill, which can be covered personally. They probably are not able to purchase the insurance or they can afford it but they decide not to buy it.

How Much a Person Will Pay If Do Not Have a Health Insurance

Here are the lists the price that must be paid for fine, individual mandate or penalty for no health insurance.
  1. The people must pay the fee for any month family such as themselves, spouse, and tax dependents, which do not meet the qualifying health coverage in minimum or minimally essential coverage.
  2. Paying the fee started from the year the file from the federal tax return too.
  3. However, the people can be a qualified person to get a health coverage exemption based on the insurance requirements which means they can able to have a health insurance.

Real Percentage in Previous Years Related to a Penalty

The data is collected from health insurance penalty calculator 2016. The people must pay the higher price from on the two different ways for a penalty for no health insurance. The first way is the percentage of a family household income and the second way is per person.
Regarding the first way, the fee comes from 2.5 from household income. The maximum price is the total per year premium level for a national price. On the other hand, the second way is calculated on the dollar instead of a percentage. Each adult must pay $695 while the kids under 18 years old must pay $347.50. The maximum payment for the second way is $2,085.

We have read the health insurance penalty 2016. Now how is about the penalty in 2017? In this year, the fee is based on the percentage of income criteria. The maximum payment is predicted nearly the same with the previous year or increases slightly in line with an inflation. In America, this fee is applied to people who do not have ObamaCare or Affordable Care Act. It is clearly mentioned that 50 million people are uninsured in penalty for no health insurance data.

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