What is a penalty for not having health insurance?

In Washington, there is a penalty for not having health insurance. This penalty is called the individual mandate. The individual mandate requires all individuals to have health insurance or pay a penalty. If an individual does not have health insurance, they must pay a penalty when they file their taxes. This penalty is the greater of either a flat fee or a percentage of the individual’s income. For the 2019 tax year, the flat fee for not having health insurance was $695 per adult and $347.50 per child, up to a maximum of $2,085 per family. The percentage of income penalty was 2.5% of household income over the filing threshold. In addition to the penalty, individuals without health insurance may be subject to additional fines when they need medical care. This is because without health insurance, individuals usually pay higher costs than those with health insurance. By having health insurance, individuals can save money and ensure that they receive the proper medical care if they get sick or injured. Therefore, it is important for individuals in Washington to have health insurance or pay the penalty if they do not have it.

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What is a penalty for not having health insurance?

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