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→History of Penalty for Failure to Purchase Coverage
[[File:Penalty.jpg|right|thumbnail|200px|If an individual fails to purchase coverage and does not meet the exceptions or the religious exemption, then under Obamacare a financial penalty may be assessed for non-indigent individuals. (Image courtesy See-Ming Lee)]]
[[File:Penalty.jpg|right|thumbnail|200px|If an individual fails to purchase coverage and does not meet the exceptions or the religious exemption, then under Obamacare a financial penalty may be assessed for non-indigent individuals. (Image courtesy See-Ming Lee)]]
===History of Penalty for Failure to Purchase Coverage===
===History of the Collective Responsibility Payment===
Monthly payments for Obamacare are massive, roughly 12-15% of an individual's annual salary. If an individual fails to purchase coverage and does not meet the exceptions or the religious exemption, then a financial penalty will be assessed for non-indigent individuals. An exemption is available if more than 8% of the individual's household income would be required to pay for the cheapest available coverage.<ref>https://www.healthcare.gov/exemptions/</ref>
Monthly payments for Obamacare are massive, roughly 12-15% of an individual's annual salary. If an individual fails to purchase coverage and does not meet the exceptions or the religious exemption, then a financial penalty will be assessed for non-indigent individuals. An exemption is available if more than 8% of the individual's household income would be required to pay for the cheapest available coverage.<ref>https://www.healthcare.gov/exemptions/</ref>