For 2014, the penalties were relatively small. The minimum amount was $95 per adult and $47.50 per child, which, for large families, is capped at a total of $285. If your income is higher, though, then your penalty could be as much as 1% of whatever income you earn over the tax filing threshold. In general, individuals making more than $20,000 have had to pay a higher penalty than the base $95 amount, and families making above certain higher limits have had to pay more than the $285 cap.
This year, though, the penalty amounts are ratcheting up significantly. The corresponding per-person amounts soar in 2015 to $325 per adult and $162.50 per child, up to a family maximum of $975. But 2% of your household income above your tax filing threshold is higher, then that's generally what you'll owe.
2016: The worst year yet for Obamacare penalties The penalties reach their worst next year, with huge increases coming once again. The per-person charge in 2016 jumps to $695 per adult and $347.50 per child, topping out at a whopping $2,085 per family. The income-based penalty rises to 2.5%.
After that, increases will be more modest. The amount of the Obamacare penalty in 2017 and thereafter will be indexed to the Consumer Price Index, with maximums gradually rising over time.
(Excerpt) Read more at fool.com ...
