What will happen if I don't have health insurance by January 1, 2014?
Will I go to jail if I don't have health insurance by January 2014?
There will be a tax penalty of $95 per person or 1% of taxable income for 2014. That tax penalty will increase in 2015 to $695 per person or 2.5% taxable income and increase again in 2016 basesd on the cost-of-living.
The are exceptions for lower income individuals and families, people who can't afford available coverage, anyone that been without insurance for 3 months or less, Indian tribes and anyone that has religious objection.