Feds cap fines for not buying health insurance

July 25, 2014 by Kelli Kennedy

(AP)—Federal officials have capped the amount of money scofflaws will be forced to pay if they don't buy insurance this year under the new health care law.

The caps are $2,448 per person and $12,240 for a family of five. The amount is equal to the national average annual premium for a bronze-level .

The penalty for the first year starts at $95 per person and can rise to as much as 1 percent of annual income. The latest figure limits what the government can charge people using the personal income computation. The penalty is due when people file their 2014 taxes.

Conservative lawmakers and groups that are critical of the Affordable Care Act encouraged consumers to skip buying , arguing it would be cheaper to pay the $95 penalty, but often failed to mention the 1 percent clause.

Explore further: Survey: Many Texans eligible for subsidies from the ACA still believe coverage is too expensive

Related Stories

Survey: Many Texans eligible for subsidies from the ACA still believe coverage is too expensive

July 8, 2014
Half of Texans who are eligible for premium subsidies under the Affordable Care Act (ACA) and who looked for health plans in the ACA's Health Insurance Marketplace said cost was the main reason they didn't enroll in a plan. ...

Tax penalty to hit nearly 6M uninsured people

September 20, 2012
(AP)—Congressional budget analysts are now estimating that nearly 6 million Americans—most of them in the middle class—will have to pay a tax penalty for not getting health insurance once President Barack Obama's health ...

Final rules issued for individual shared responsibility mandate

August 29, 2013
(HealthDay)—Starting 2014, the individual shared responsibility provision of the Affordable Care Act, which calls for each individual to have basic health insurance coverage, will be implemented, according to a statement ...

Millions will not have to pay Obamacare tax penalties, report says

June 9, 2014
(HealthDay)—Just a fraction of Americans will pay federal tax penalties in 2016 for not having health insurance, new projections show.

US appeals court deals blow to health law

July 22, 2014
(AP)—President Barack Obama's health care law is snared in another big legal battle after two federal appeals courts issued contradictory rulings on a key financing issue Tuesday.

HEALTH REFORM: Exchanges will be cornerstone for coverage choices

September 23, 2013
(HealthDay)—A new way of shopping for health insurance is coming to your state.

Recommended for you

High-fat diet in pregnancy can cause mental health problems in offspring

July 21, 2017
A high-fat diet not only creates health problems for expectant mothers, but new research in an animal model suggests it alters the development of the brain and endocrine system of their offspring and has a long-term impact ...

To combat teen smoking, health experts recommend R ratings for movies that depict tobacco use

July 21, 2017
Public health experts have an unusual suggestion for reducing teen smoking: Give just about any movie that depicts tobacco use an automatic R rating.

Opioids and obesity, not 'despair deaths,' raising mortality rates for white Americans

July 20, 2017
Drug-related deaths among middle-aged white men increased more than 25-fold between 1980 and 2014, with the bulk of that spike occurring since the mid-1990s when addictive prescription opioids became broadly available, according ...

Aging Americans enjoy longer life, better health when avoiding three risky behaviors

July 20, 2017
We've heard it before from our doctors and other health experts: Keep your weight down, don't smoke and cut back on the alcohol if you want to live longer.

Parents have critical role in preventing teen drinking

July 20, 2017
Fewer teenagers are drinking alcohol but more needs to be done to curb the drinking habits of Australian school students, based on the findings of the latest study by Adelaide researchers.

Fresh fish oil lowers diabetes risk in rat offspring

July 19, 2017
Fresh fish oil given to overweight pregnant rats prevented their offspring from developing a major diabetes risk factor, Auckland researchers have found.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.