Obamacare Penalty: 4 Things You Don’t Know

The best written article on the penalyt that I’ve seen – Obamacare Penalty: 4 Things You Don’t Know | The Fiscal Times.

A note on income: The penalty is actually based on 1 percent of your adjusted gross income (AGI) that exceeds your personal exemption and standard deduction. This is often referred to as your “tax return filing threshold.

”The “no insurance” fee is levied on a pro rata basis for every month you don’t have coverage, exceeding a three-month period. In other words, if you don’t have insurance for a portion of the year, 1/12 of the annual penalty applies to each month you’re uninsured. If you lack coverage for less than three consecutive months, you don’t owe a penalty.


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