2015 penalties (“fee”) for not having health insurance

The fee (that’s what the Feds like to call it) in 2015

If you don’t have health insurance coverage in 2015, you’ll pay the higher of these two amounts:

1⃣ 2% of your yearly household income. (Only the amount of income above the tax filing threshold, about $10,000 for an individual, is used to calculate the penalty.) The maximum penalty is the national average premium for a bronze plan.

2⃣ $325 per person for the year ($162.50 per child under 18). The maximum penalty per family using this method is $975.

Note: for the second alternative to apply, a couple’s household income could not exceed $58,750 (58,750-10,000×2%=$975).

Although I do not know the national average bronze plan premium. A review of plans in several states indicates a premium for a couple in their mid forties of between $650 and $775 per month.

Many people are exempt from this fee. See healthcare.gov for details.