Health Insurance Information and Tips Part two

What goes on if health insurance wasn't bought by me after 2014? 

2014? An individual mandate is included by the health reform law, needing every American to have health coverage, with simply a couple of exceptions. It contains a penalty for anyone who will not purchase health insurance.

The fees are phased in: the fee may be the greater of $95 or 1% of income in 2014; $325 or 2% of income in 2015; and $695 or 2.5% of income when fully implemented. There is certainly a cap on the full total you are able to pay.

There are several exceptions to the fee though. 

You usually do not have to cover if:

you can not find a premium for a qualified plan through your state medical health insurance exchange that is less than 8% of your adjusted gross income;
your income is below the tax filing threshold;
you have a hardship waiver;
you are not covered for a amount of less than 3 months throughout the year; or
you have a religious objection.