President Donald Trump has been able to repeal the Affordable Care Act’s Individual Mandate. 2018 is the final year in which you may have to pay an Obamacare penalty.
Use this calculator to estimate your 2018 ACA penalty. The fine, if any, is enforced as a result of the Shared Responsibility Payment under the individual mandate of the Affordable Care Act.
You’ll need to estimate your 2018 income to calculate the penalty. Any IRS fine won’t be payable until you file a return in 2019.
Be sure to check if you will qualify for an exemption, to avoid incurring an Obamacare fine, if you will be without insurance in 2018.
Above is the combined Obamacare fine estimate for everyone included on your tax return. If the number is zero then you don’t owe anything!
Please Note the Following:
1. You will need to calculate fine amounts separately if some individuals on your return will be without health insurance for different time-frames during 2018.
2. If you have a dependent child turning 18 years old sometime in 2018 then the Obamacare penalty attributed to them will likely need to be calculated separately.