Exemptions to the Individual Mandate
There are some cases where there is no penalty to not having coverage.
If you don’t have health insurance coverage or fit within an exemption you will pay a tax penalty. The penalty is set to increase each year as follows:
In 2015 it will be the greater of $325 per adult, or 2% of taxable income above the filing limit.
In 2016 it will be the greater of $695 per adult, or 2.5% of taxable income above the filing limit.
After 2016 the tax penalty increases every year based on a cost-of-living adjustment.
The penalty starts after three months without coverage.
For each month the penalty due is 1/12 of the total annual penalty.
The penalty for a child is half that of an adult.
The total liability for a family is capped at 300% of the individual penalty.
Only the first two children are counted to calculate the penalty.
This article is published on KansasMoney.gov. Find more information by contacting these state agencies: