Some people may decide that they simply do not want to sign up for Obamacare. if this happens, they will have to pay a financial penalty.

How much will they have to pay?

Well, the first year they won't be too bad, but after that they increase significantly.

In 2014 the fine will be $95 or 1% of income, whichever is greater but by 2016 they will cost $695 per year (up to $2085 for a family) or 2.5% of income, whichever is greater.

If you choose not to pay, the IRS can withhold any tax refunds that might come to you in the future, however it will not actually be considered a "crime" to not sign up.

People with this mindset should consider that there are timelines for signing up and, if they miss them, they cannot just wait until they need care to get insurance. Unlike other types of insurance, coverage is not available for purchase year round.

They should also think about the fact that in the long run, it might be cheaper to buy the insurance, especially if they qualify for a subsidy.

Finally, if they don't sign up and they get sick, the cost of their car could far outweigh the cost of the coverage they chose not to take.

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