Have you started thinking about filing your 2014 taxes? April 15 may be a few months away, but this year — the first year the Affordable Care Act (ACA) is in effect — filing taxes will be more complicated for millions of Americans. That’s because certain provisions of the new law — namely, penalties and subsidies — will be reconciled at tax time. If you got health insurance through your
What are the Penalties for Not Having Health Insurance in 2015?
If you did not have health insurance in 2014, be prepared to pay a penalty when you file your 2014 income taxes next April. If the penalty for not being covered in 2014 did not seem too high, brace yourself for the dollar amount to rise next year, and the year after. Here are the penalty amounts for 2014, 2015, and 2016: 2014 2015 2016 $95 per adult $47.50 per