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New Member
posted May 31, 2019 8:04:13 PM

How much is taken out of my tax return if I don't have health insurance? I was under the impression it would be no more than $600.

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1 Best answer
Alumni
May 31, 2019 8:04:14 PM

This is how the penalty is computed, they use one of two ways, whichever is higher:

Percentage of income

  • 2.5% of household income
  • Maximum: Total yearly premium for the national average price of a Bronze plan sold through the Marketplace
Per person
  • $695 per adult
  • $347.50 per child under 18
  • Maximum: $2,085

2 Replies
Alumni
May 31, 2019 8:04:14 PM

This is how the penalty is computed, they use one of two ways, whichever is higher:

Percentage of income

  • 2.5% of household income
  • Maximum: Total yearly premium for the national average price of a Bronze plan sold through the Marketplace
Per person
  • $695 per adult
  • $347.50 per child under 18
  • Maximum: $2,085

Alumni
May 31, 2019 8:04:15 PM