The One to Count On...

Penalties for Uninsured to Increase Next Year

Posted: Wednesday, March 12th, 2014 at 6:22 am
Author: KCII News - Nathan Swenson

The open enrollment deadline for the Affordable Health Care Act is about three weeks away. For uninsured individuals, failure to signup for a health insurance plan will result in a penalty when you file taxes next year.

If an individual hasn’t had insurance for at least 9 months in 2014, there will be a fine of $95 for adults and a $47 fine for children, or 1% of gross income. For those without health insurance in 2015, the fine increases to $695 for adults and $347 for children, or 2.5% of income.

Click here for an interview with Certified Application Counselor with the Richland based non-profit River Hills Community Health Center, Eric Greiner, about the enrollment deadline, penalties and potential tax breaks for healthcare.