1 Under the health care law, you must have qualifying health coverage or pay a fee on your next federal tax return.  The penalty in 2016 is 2.5% of household income or $695 per adult (half of that per child), whichever is higher. Learn more about the fee for not being covered.
The law of supply is a fundamental principle of economic theory which states that, all else equal, an increase in price results in an increase in quantity supplied. In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes.
Demand is from the consumer's perspective while supply is from the producer's. Supply in economics is defined as the producer's willingness and ability to supply a given good at various price points, holding all else constant. An increase in price will increase producer's revenues, thus they are willing to supply more; a decrease in price will reduce revenues, therefore producers will supply less.