http://www.etax.com <br />With the implementation of the Affordable Care Act, Americans who chose to opt out of health coverage will end up paying a rather high penalty. For a five person family with a high income, the penalty can max out at over $12,000 in 2014. This penalty is expected to rise significantly in 2015 and continue upwards by 2016. <br />This year, the penalty for lack of health insurance is either a set amount of $95 per adult, $47.50 for children under 18, with a family max of $285, or 1% of your household income. The penalty is assessed at whichever option is greater, and is expected to increase substantially over the next few years. <br />The flat penalty in 2015 will rise to $325 per adult, and continue up to $695 in 2016, plus half that per child, up to a maximum of $975 and $2,085 in 2015 and 2016, respectively. The income percentage penalty steepens in the following years, to 2% in 2015, and 2.5% in 2016. <br />There are some groups who are exempt from paying the penalty, regardless of their health care coverage.
