Tips and Advice

What Will Obamacare Cost You?

Business Insider's Henry Blodget detailed the costs of so-called Obamacare, showing what the health insurance tax will cost (this is calculated to 2016).
Obamacare on laptop screen
By AmOne
Updated on: November 10th, 2022

Obamacare on laptop screen If you are not sure about what the health insurance tax will cost you, Business Insider’s Henry Blodget broken down the costs (in 2016).

  • Citizens making less then $9,500 will not have to pay anything
  • If you make between $9,500 and $37,000, the amount you will pay is $695 per person (up to $2,100 for a family plan).
  • Those who make over $37,000 will pay 2.5 percent of their household income less $9,500.
  • The “bronze” plan fee established through your state exchange will be paid by those who earn more than $200,000 (or so). The plan will is about $5,000 per person or $12,500 for a family plan.
  • Several exemptions could change your payment of the tax.

The Business Insider put together a penalty chart to simplify things (the costs are calculated at a single-person’s income).

healthcare penalty tax cost chart