INDIVIDUAL HEALTH INSURANCE: OBAMACARE: THE AFFORDABLE CARE ACT & THE NY STATE EXCHANGE
If you can afford health insurance but choose not to buy it, you must pay a fee called the individual shared responsibility payment. (The fee is often called the “penalty”, “fine”, or individual mandate.”)
- You owe the fee for any month you , your spouse, or your tax dependents don’t have qualifying health coverage.
- You pay the fee when you file your federal tax return for the year you don’t have coverage.