Dont have health insurance? Get ready to pay up. The ObamaCare-mandated fines for not having insurance are rising in 2015 -- and for the first time, will be collected by the Internal Revenue Service. The fines for the 2014 year were relatively modest -- $95 per person or 1 percent of household income (above the threshold for filing taxes), whichever is more. But insurance scofflaws face a sharp increase if they dont get covered soon. The fine will jump in 2015 to $325 or 2 percent of income, whichever is higher. By 2016, the average fine will be about $1,100, based on government figures.
Posted on: Wed, 31 Dec 2014 03:16:08 +0000