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 or ICHRA without the hassle?
480 E. Winchester St. Suite 230 Salt Lake City, UT 84107
Disclaimer: The information provided on this website is general in nature and does not apply to any specific U.S. state except where noted. Health insurance regulations differ in each state. See a licensed agent for detailed information on your state. PeopleKeep, Inc., does not sell health insurance.