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).
(please click the image to enlarge)
