It's official: if you make a quarter of a million bucks a year and decide not to pay for health insurance, you're going to have to fork over $2,448 to the feds.
The Internal Revenue Service finally released its maximum fines for those who choose to go without health insurance. Under terms of the Patient Protection and Affordable Care Act, fines were included for those who decided not to have coverage as an incentive to get more folks to purchase coverage.
The maximum family penalty issued by the IRS was $12,240 for a five-member family. That's five times $2,448, in case you wondered.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.