Penalties, under Health Care Reform’s “Individual Mandate,” will be phased in, starting next year. A person who does not obtain coverage will pay either a percentage of income or a specific dollar amount, whichever is greater. In 2014, you will pay either $95 or 1 percent of your taxable income. Penalties increase in 2015 ($325 per individual or 2 percent of income) and 2016 ($695 or 2.5 percent of income).