What is the penalty for not having health insurance in Massachusetts?

In Massachusetts, the penalty for not having health insurance, also known as the Individual Mandate Penalty, has been reinstated since 2020. The penalty is assessed on a monthly basis, and the amount varies depending on income and family size. For individuals with higher incomes, the penalty can be quite substantial. The penalty is calculated as the greater of either a percentage of household income or a flat dollar amount per adult in the household. For the 2021 tax year, the penalty can range from $264 to $1,112 per adult, with potential additional costs for dependent children. However, it is important to note that there are exemptions available for certain individuals, including those who cannot afford coverage or who experience a specific hardship.