So you file your income tax return, and find you owe Uncle Sam $500—not for taxes, but for not having health insurance last year. The penalty is $95 per adult, or 1 percent of income—whichever is greater. Fifty-thousand dollars of income works out to a $500 penalty.
As many as 6 million individuals and families may have to pay this year. If you don’t have insurance for 2015, your penalty next year will rise to $325 per adult, or 2 percent of income, whichever is greater. But the enrollment period ended Feb. 15.