Affordable Care Act penalties set to increase nationwide

Penalties for not having health insurance will soon increase under the Affordable Care Act.

Penalties for not having health insurance will soon increase under the Affordable Care Act. (1/1/16)

EDISON - New Jersey residents without health insurance could soon face stiffer fines.

A new law set to go into effect nationwide would see penalties for those without health insurance pay more under the Affordable Care Act. 

Under the new law, people without health insurance will have to pay a fine in one of two ways: a per-person penalty of $695 or a 2 percent income-based penalty, whichever one is more.

The maximum penalty someone would have to pay is $2,085.

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