MYTH: The penalty for being uninsured in 2014 is only $95. It - TopicsExpress

MYTH: The penalty for being uninsured in 2014 is only $95. It costs way more than that to buy health insurance. I might as well go uninsured in 2014. REALITY: You may face a tax penalty much higher than $95 for going uninsured next year. The penalty is $95 or 1% of your income – whichever is greater. Therefore, if you earn $50,000 per year, you could face a tax penalty of $500 if you do not have insurance for more than three consecutive months in 2014.

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