businessinsider.com ^ | June 28 2012 | Mandi Woodruff
Consumer penalties: Part of the controversy surrounding health care reform was that the law would mandate coverage for all Americans on pain of penalties. Those penalties will be tiered and rise over a three-year period that kicks off in 2014, according to the National Association of Consumer Protection:
2014: Families––$285 or 1 percent of total household income, whichever is greater. Individual adults––$95. 2015: Families––$975 or 2 percent of income, whichever is greater. Individual adults––$325. 2016: Families––$2,085 or 2.5 percent of income, whichever is greater. Individual adults––$695.
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