Premium Tax Credits

Some lower-income individuals and families may qualify for a premium tax credit if they have enrolled in health coverage under the Healthcare Marketplace in order to assist them in paying for their coverage..

Minimal Essential Coverage

Coverage is required to

Provide essential benefits in each of the following areas:

Ambulatory patient services.

Emergency services.


Maternity and newborn care.

Mental health and disorder.

Prescription drugs.

Rehabilitative services.

Laboratory services

Preventive and wellness services

Pediatric oral and vision care

Individual Shared Responsibility 

Starting in 2014, the Individual Shared Responsibility provision calls for each individual to either have minimum essential coverage for each month, qualify for an exemption or make payment when filing his or her federal income tax return.

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Tax Penalty

Beginning in 2014, the Affordable Care Act requires most legal residents of the United States to either obtain health insurance or pay a penalty tax. The penalty amount will be the greater of a flat-dollar amount for each individual that rose to $695 in 2016, or a percentage of a household's income that rises to 2.5% for 2016. The total amounts are capped for family payments