Caprice is a single 42-year-old with income of $12,000 in 2017.She lacked minimum essential coverage for 7 months in 2017.What is her individual shared responsibility payment amount?

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Caprice's individual shared responsibility payment would be either 2.5% of her household income ($12,000 x 0.025 = $300) or a flat fee ($695) per adult for the year, whichever is higher. In this case, $300 is higher than $695, so the payment would be $300 divided by 12 months = $25 per month without coverage. Since Caprice was without coverage for 7 months, her total amount owed is $25 x 7 = $175. However, there is a cap on the payment based on the cost of the national average premium for bronze level health plans. In 2017, the monthly national average premium for a bronze level plan was $311. Therefore, Caprice's maximum individual shared responsibility payment would be $311 x 7 months = $2,177. Her actual payment would be the lower of the two amounts, which is $175.44. However, there is also a minimum payment amount, which is the greater of $95 or 1% of income. In this case, 1% of Caprice's income is $120, which is higher than $95. Therefore, her actual individual shared responsibility payment is $175.44. Rounded to the nearest cent, this is equal to $405.44.

Caprice Is a Single 42-Year-Old with Income of $12,000 in 2017.She