“If individuals choose not to carry insurance, they are subject to a penalty, starting at $95 per person per year or 1 percent of income in 2014, whichever is greater, and eventually reaching $695 per person or 2.5 percent of income by 2016.”
So If you make 130K and you don’t have insurance your penalty will be $1300.00 in 2014 and 2016 in $3250.00.? I am not sure if it is per person either.
So much for the cheap penalty.
Don’t forget...that’s just a penalty...you’re not getting any insurance.
the penalty is per person but there are family caps. The penalty is 1/12 per month of no coverage with a 3 month grace period in there. And remember that paying the penalty does NOT provide coverage. Also note that the employer mandate is to provide affordable essential coverage to the EMPLOYEE, not to the employee’s family.