Front cover of Electrolux Factory News from November 25, 1944. A graphic representing the Army Navy E Pennant is to the left of the publication title. It recognized the contribution to war production by the factory and its employees. The pennant was also flown above the facility.
The penalty tax for going without health insurance by year is: 1  2014 insurance penalty fee: $95 per person. 2  2015 insurance penalty fee: $325 per person. 3  2016 insurance penalty fee: 2.5% of income or $695 per person or whichever is higher.
The penalty is a flat fee per adult or a percentage of household income, whichever is greater; the penalty per uninsured child is half the adult penalty. In 2014, the penalty is just $95 per adult, but this quickly escalades to $695 in 2016.Individuals with higher incomes may be subject to higher fines.Calculating the tax penalty for your family is fairly straightforward, and you should do so before making the decision of whether to get insured.f you're one of 48 million Americans without health insurance, you not only have the challenge of understanding what the law means for individuals: you'll also face the important decision of purchasing insurance or paying a tax penalty. These five steps will help you better understand the penalty and your options. 1.