September 30, 2020 17:22 Updated Follow The ACA establishes financial penalties on individuals for failure to secure health insurance. The penalty is phased in and can reach an annual amount of $2085 based on your income. Related articles What if I don't want to buy health insurance? Where can I find out about insurance law in Indiana? What are some of the major coverage requirements? Where can I get a list of HMOs and PPOs? What services are available for Older Americans Act programs?