<img src="//bat.bing.com/action/0?ti=5067266&amp;Ver=2" height="0" width="0" style="display:none; visibility: hidden;">
GET STARTED

Small Business Employee Benefits and HR Blog

Health Insurance Tax Penalty

November 5, 2012
XL_office_desk_work_hero

The Supreme Court upheld the individual mandate as a tax, and therefore the IRS is responsible for collecting it. By the year 2016, the tax penalty for not purchasing health insurance hits $695 a year or 2.5 percent of annual income, whichever number is higher.  Beyond that time frame, the IRS will collect monies based on cost-of-living adjustments.

Want to offer a QSEHRA without the hassle?
Let PeopleKeep automate your benefits for you.
SEE HOW IT WORKS
meeting_wide-1 CTA_purp_R