Want to stop whining now
"Beginning in 2014, most individuals will be required to maintain minimum
essential coverage or pay a penalty of $95 in 2014, $350 in 2015, $750 in 2016 and indexed thereafter"
From the cover summary ^^^
Sec. 1501 PPACA (Consolidated) 146
‘‘(1) IN GENERAL.—The amount of the penalty imposed by
this section on any taxpayer for any taxable year with respect
to failures described in subsection (b)(1) shall be equal to the
lesser of—
‘‘(A) the sum of the monthly penalty amounts determined under paragraph (2) for months in the taxable year
during which 1 or more such failures occurred, or
‘‘(B) an amount equal to the national average premium
for qualified health plans which have a bronze level of coverage, provide coverage for the applicable family size involved, and are offered through Exchanges for plan years
beginning in the calendar year with or within which the
taxable year ends.
‘‘(2) MONTHLY PENALTY AMOUNTS.—For purposes of paragraph (1)(A), the monthly penalty amount with respect to any
taxpayer for any month during which any failure described in
subsection (b)(1) occurred is an amount equal to
1⁄12 of the greater of the following amounts:
‘‘(A) FLAT DOLLAR AMOUNT.—An amount equal to the
lesser of—
‘‘(i) the sum of the applicable dollar amounts for
all individuals with respect to whom such failure occurred during such month, or
‘‘(ii) 300 percent of the applicable dollar amount
(determined without regard to paragraph (3)(C)) for
the calendar year with or within which the taxable
year ends.
‘‘(B) PERCENTAGE OF INCOME.—øAs revised by section
1002(a)(1) of HCERA¿ An amount equal to the following
percentage of the excess of the taxpayer’s household income for the taxable year over the amount of gross income
specified in section 6012(a)(1) with respect to the taxpayer
for the taxable year:
‘‘(i) 1.0 percent for taxable years beginning in
2014.
‘‘(ii) 2.0 percent for taxable years beginning in
2015.
‘‘(iii) 2.5 percent for taxable years beginning after
2015.
‘‘(3) APPLICABLE DOLLAR AMOUNT.—øAs revised by section
10106(b)(3) and by section 1002(a)(2) of HCERA¿ For purposes
of paragraph (1)—
‘‘(A) IN GENERAL.—Except as provided in subparagraphs (B) and (C), the applicable dollar amount is $695.
‘‘(B) PHASE IN.—The applicable dollar amount is $95
for 2014 and $325 for 2015.
‘‘(C) SPECIAL RULE FOR INDIVIDUALS UNDER AGE 18.—
If an applicable individual has not attained the age of 18
as of the beginning of a month, the applicable dollar
amount with respect to such individual for the month shall
be equal to one-half of the applicable dollar amount for the
calendar year in which the month occurs.
‘‘(D) INDEXING OF AMOUNT.—In the case of any calendar year beginning after 2016, the applicable dollar
of the Public Health Service Act), or 