If you don’t have health insurance, your penalty will be calculated based on your income and the number of people in your household. For 2014, the penalty amount was $95 or 1% of your annual income per person in your household, (whichever was greater), the penalty increased to $325 or 2% in 2015, and the penalty for not having coverage in 2016 will be $695 or 2.5% of your household income. After 2016, the dollar amount will be adjusted for inflation each year. Penalties for dependents under age 18 will be calculated as a half. The penalty will include each month that you do not have coverage for yourself and your dependents.