Individual Requirement for Health Insurance
The Affordable Care Act (ACA) - often called Obamacare - is a new law that requires all Americans to have health insurance or pay a penalty. Qualified insurance could be job-based insurance, a private plan, Medicaid, Medicare, or another government-sponsored plan. You will sometimes hear this referred to as the "Individual Mandate". Use this chart to see if you meet the requirements.
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You are an undocumented immigrant.
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You are incarcerated.
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You are a member of an Indian tribe.
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You are part of a religion that is opposed to accepting a health insurance policy.
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Your family income is below the threshold for filing a tax return.
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You have to pay more than 8% of your income in health insurance premiums.
Do any of these apply?
There is no penalty for not having health insurance.
Do any of these apply?
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You have an individual health insurance policy, minimum of Bronze benefit level.
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You have insurance through your employer's group plan.
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You have Medicare.
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You have Medicaid or Children's Health Insurance Plan (CHIP)
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You have TRICARE.
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You have a veteran's health plan.
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You have a grandfathered health insurance plan issued before the Affordable Care Act was enacted.
You will pay a penalty for not having health insurance
You have satisfied the individual requirement for health insurance. You will not pay a penalty.
2014
Penalty is $95 per adult and $47.50 per child (up to $285 per family) or 1% of family income, whichever is greater.
2015
Penalty is $325 per adult and $162.50 per child (up to $975 per family) or 2% of family income, whichever is greater.
2016
Penalty is $695 per adult and $347.50 per child (up to $2,085 per family) or 2.5% of family income, whichever is greater.
