Use the Obamacare Fine Calculator below to figure out if you owe a fine, fee, penalty or tax which is officially called the Shared Responsibility Payment under the Individual Mandate of the Affordable Care Act. You must calculate the Obamacare penalty for you and your family right here so you can accurately prepare your 2014 taxes by April 2015.
Remember that March 31st is the last day to obtain government approved health insurance under the new law. After that date you would need to qualify for an exemption to avoid incurring the fine. If you are wondering, “How much is my Obamacare fine?” then you’ve come to the right place!
Above is the combined 2014 Obamacare penalty for everyone included on your tax return.
Please Note the Following:
1. If some individuals on your return are without health insurance for different time-frames during 2014, you will likely need to calculate those fine amounts individually to get a highly accurate Obamacare fine amount.
2. If you have a dependent child turning 18 years old sometime in 2014, the Obamacare penalty attributed to them will likely need to be calculated separately.