How much, Really, is the penalty for not having insurance?

The generally quoted number is $95.  That is no, however, how the law reads.  The penalty is the greater of $95 or 1% of your “income.”

The Tax Policy Center has launched a penalty calculator online, and in almost every case the penalty will be more than $95.  The article points out that a family of four, earning $50,000, could actually pay $300 a year, and it can run to the four figures for some people.