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In that case, you'd report the medical expenses related to the incident as miscellaneous (other) income. Punitive damages are taxable except in certain wrongful death cases, as are awards for employment discrimination and injury to reputation (libel, slander, defamation, etc.).
Health plans are not income: Even though the value of your plan is reported on your W-2, itâs not taxable. So you donât need to report it as income on your tax return. Penalties for those without medical coverage: The penalty started at $95 or 1% of income (whichever is greater) per person in 2014.