The Affordable Care Act, also known as Obamacare or ACA, requires most Americans to have health insurance that meets a government standard known as "minimum essential coverage," or MEC. Whether your insurance qualifies as MEC depends not on the plan itse
For tax years prior to 2019, if you don't have minimum essential coverage and don't qualify for an exemption, you might have to pay the penalty when you file your income taxes. The official name for the penalty is the "individual shared responsibility payment." How much you have to p...