How much is the Obamacare Penalty for 2016

The Obamacare Tax Penalty for 2016 will be $695 per a person, or 2.5% of your income, whichever is higher.

Example 1:  A family of 3 who make $50,000.

2016 Obama Tax Penalty:  $2085.00

Example 2: A self employed individual making $150,000.

2016 Obama Tax Penalty:  $3,750 (2.5%)

Example 3: Apply for 2016 Health Insurance.

2016 Obama TaxPenalty:  $0.00

More examples of how to avoid Health Insurance Penalty and Save Money

An individual would pay $695 a year or $58 a month tax penalty. SO if they buy a 2016 Obamacare plan under $58 a month, they are saving money (by avoiding penalty) AND getting health insurance.

A family of 2 would pay $1390 a year or $116 a month penalty. SO if they buy a 2016 Obamacare plan under $116 a month, they are saving money (by avoiding penalty) AND getting health insurance. 

A family of 3 would pay $2085 a year or $174 a month penalty. SO if they buy a 2016 Obamacare plan under $174 a month, they are saving money (by avoiding penalty) AND getting health insurance.