There is no federal penalty for not having health insurance since 2019, however, some states and jurisdictions have enacted their own health insurance mandates.
The federal tax penalty for not signing up for health insurance was lifted in 2019 due to changes made by the Trump administration.
The previous tax penalty for not having health insurance in 2018 was $ 695 for adults and $ 347.50 for children or 2% of your annual income, whichever is greater. This penalty is designed to protect people from not having health insurance coverage and not being able to pay their medical expenses in the event of injury or illness.
The federal tax penalty for not signing up for health insurance was lifted in 2019 due to changes made by the Trump administration.
The previous tax penalty for not having health insurance in 2018 was $ 695 for adults and $ 347.50 for children or 2% of your annual income, whichever is greater. This penalty is designed to protect people from not having health insurance coverage and not being able to pay their medical expenses in the event of injury or illness.
Statewide health insurance penalties may be in effect
While there will no longer be federal penalties for being uninsured or choosing a plan that does not comply with the ACA law, it is important to consider state requirements for health insurance. A large number of states have their own health insurance penalties that are assessed when people do not have insurance that complies with the laws of that state.
Some places where a health insurance penalty is still being assessed:
Some places where a health insurance penalty is still being assessed:
- New Jersey. This state has a health insurance penalty that took effect in 2019. The health insurance penalty is based on New Jersey rates for Bronze-level health insurance policies.
- Massachusetts has imposed a penalty on health insurance since it established the state health insurance program in 2006. In the past, they did not impose a penalty on health insurance if someone paid a federal penalty. However, with the removal of the federal health insurance penalty, they will begin charging government fees.
- Vermont has imposed a health insurance penalty for the uninsured in that state. The Health Insurance Penalty Law will come into force in 2020.
- D.C. This city enacted its sanction for health insurance. It came into effect in 2019.
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