Obamacare Tax Penalty Information 2024

How Much Is the Obamacare Tax Penalty in 2024?

The Affordable Care Act (Obamacare) tax penalty has been set to zero, but some states have enacted their own health insurance requirements.

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What Pennsylvania Residents Need to Know About Obamacare for 2024
 
How To Sign Up for Obamacare in Pennsylvania for 2024

When the Affordable Care Act was created, one of its cornerstone ideas was that all Americans should have health insurance. Until January 1, 2019, you would have faced a federal tax penalty for being uninsured -- unless you qualified for a specific exemption -- but the Trump administration set that penalty to zero.

Now, you'll have to report your coverage status on your federal tax return, but you won't have to pay a federal tax penalty if you aren't covered.

That said, as we approach open enrollment for 2023 health plans, five states have active laws imposing tax penalties on residents who don't have insurance and don't qualify for an exemption: California, the District of Columbia, Massachusetts, New Jersey, and Rhode Island. Choose your state from the list on this page to learn more.


Jurisdictional relevance: ST

There are versions of this article for each State.

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