For tax year 2018, the penalty will remain at 2.5% of your total household adjusted gross income, or $695 per adult and $347.50 per child, to a maximum of $2,085. It is currently rumored that this will be the final year of the penalty, effective 2019 income taxes it will be eliminated.
For those who recently purchase health insurance or recently covered with health insurance should receive either of the following forms applicable to you:
Form 1095-B, Health Coverage.
•Health insurance providers send this form to individuals they cover, with information about who was covered and when.
Form 1095-C, Employer-Provided Health Insurance Offer and Coverage
•Certain employers send this form to certain employees, with information about what coverage the employer offered. Employers that offer health coverage referred to as “self-insured coverage” send this form to individuals they cover, with information about who was covered and when.
Form 1095-A, Health Insurance Marketplace Statement
•The Health Insurance Marketplace sends this form to individuals who enrolled in coverage through the Marketplace. The form includes with information about the coverage, who was covered, and when.