Health insurance

What are individual​​ plans? 

If you do not have coverage through an employer, you can buy an individual plan for yourself and your family during open enrollment through​ or directly from an insurance company.

Am I required to h​​ave coverage?

Most people must have basic (minimum essential) coverage or pay a penalty.

Who is not required to have he​alth insurance?

  • Individuals and families whose income is low enough that they do not need to file federal income tax returns
  • People who would have to pay more than 8 percent of family income for insurance after taking premium tax credits and employer contributions into account
  • Individuals who have been uninsured for less than three months
  • People who are incarcerated
  • Undocumented immigrants
  • Members of American Indian tribes
  • People who do not obtain coverage because they belong to religious groups that object to insurance coverage, who belong to a health care sharing ministry, or who qualify for a hardship exemption 

What happens if I don't h​​ave insurance?

Many people who can afford health insurance but decide not to buy it throughout the year will owe penalties when they file their taxes in the spring of the next year.

What are the p​enalties?

The penalty grows each y​ear as follows:

  • Tax year 2015: The greater of $325 per adult or 2 percent of taxable income above the filing limit.
  • Tax year 2016: The greater of $695 per adult or 2.5 percent of taxable income above the filing limit.
  • After tax year 2016: The tax penalty increases annually based on a cost-of-living adjustment.
  • Children: The penalty for a child is half that of an adult. Only the first two children are counted in calculating the penalty.

What happens if I don't p​ay the penalty?

  • You can be without coverage for up to three months without triggering the penalty. After that, you pay the penalty for any month that you are not covered.
  • If you are required to pay a penalty but do not, the IRS will send you a notice. If you do not pay the penalty, the IRS can reduce the amount of a future tax refund.​​​

Che​ck a license​

Whether you are considering an exciting new investment, getting ready to buy insurance, or applying for a payday or title loan, always be sure to check to make sure the individual or company you are working with is licensed.

Check a license now.​

Licensed payday and title lenders​

Complaint or questions? 


888-877-4894 (toll-free)

Financial services​

866-814-9710 (toll-free)