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If I don’t have health insurance, how much will it cost for me to go without insurance?

Since there are subsidies available for low-income and middle income families, the cost of insurance may be cheaper than you think. The goal of the health insurance exchanges it to get as many people covered as possible (unless you have a special exception, you’ll pay a penalty if you forego coverage).

The penalties vary by year:

In 2014, the penalty is $95 per adult and $47.50 per child or 1% of the family’s income, whichever figure is bigger.

In 2015, the penalty is $325 per adult and $162.50 per child or 2% of the family income.

In 2016, the fees are $695 per adult and $347.50 per child or 2.5% of the family income, and costs thereafter will keep pace with the cost of living.


Health Insurance Penalty Phase-In Schedule
Pay the greater of the two amounts


Percentage of Income

Set Dollar Amount











What kinds of plans are offered?

The types of plans are split into four categories: platinum, gold, silver and bronze with corresponding levels of coverage. The more expensive plans have better coverage and lower out of pocket costs.

What about subsidies?

Incomes for the purpose of subsidies are dependent on the federal poverty level. For example, a family of four with an annual income of approximately $35,000 will pay $117 after the subsidy and a family of four with an annual income of $93,700 will pay $742 after the subsidy.(Note: These are sample quotes and are not guaranteed. Subject to change at any time).

To learn more about your healthcare options, speak with a MatrixIA‘s licensed insurance agent at 408-986-8506 to learn more about the coverage available and how to determine which plan is the best for you.