1501 - Requirement to Maintain Minimum Essential Coverage
Amended by section 10106 of the Senate Manager’s Amendment and 1002 of HCERA. Effective January 1, 2014, mandates that all individuals with access to affordable coverage purchase minimum essential coverage or pay a penalty. The penalty phases up as follows: 2014: $95 or 1% of income (whichever is greater) 2015: $325 or 2% of income 2016: $695 or 2.5% of...