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Just the Facts: Obamacare Taxes

What don't you see on this list?

Tax Credits under Obamacare were an estimated $40 billion in 2016 according to the CBO(1). Obamacare is not bankrupting this country, as it would rank 7th on this list. In fact, look at what's #1 on the list. Yes, the taxes you don't pay when you buy Health Insurance at work at $329 billion per year.

Individuals and Families: With the passage of the Tax Cut & Jobs Act in 2017, the Tax Penalty for not having insurance was reduced to $0. (Updated 2019)

The Tax penalty for not having insurance is either 2.5% of household income or $695 per adult and $347.5 per child, whichever is greater. The maximum fine is capped at the national average premium for bronze level insurance plans for single individuals. In 2016 the cap was $2,676.

The Tax penalty is divided by 12 for each month you're uninsured. So, for someone uninsured for 6 months out of the year, the penalty would be half of what's calculated above. In addition, the penalty applies only if an individual is uninsured for 3 consecutive months.

Penalty Calculator:

Households making under 400% of the national poverty level may be eligible for financial assistance in the form of an Advanced Premium Tax Credit (APTC).

Federal Poverty Level Guideline