Effective 2014, if a taxpayer is not covered under minimum
essential coverage for one or more months, then, unless an
exemption applies, the taxpayer is liable for the individual shared
responsibility payment on his return. The individual shared
responsibility payment is the lesser of: (1) the sum of the monthly
penalty amounts; or (2) the sum of the "monthly national
average bronze plan premiums" for the "shared
responsibility family."
In recently published Revenue Procedure 2014-46, Sec. 3, the IRS
provides that the monthly national average premium, for qualified
health plans that have a bronze level of coverage and are offered
through exchanges in 2014, is $204 per individual and $1,020 for a
shared responsibility family with five or more members. For
example, if the sum of the monthly penalty amount is $95 (or 1
percent of income) and the bronze level of coverage costs $204, the
individual's shared responsibility payment would be $95, unless
the 1 percent is
