The California Legislature has passed SB 78, which would require most California residents and their dependents to obtain minimum health care coverage by January 1, 2020, or pay a penalty similar to the penalty previously imposed by the federal government under the Affordable Care Act. The Governor is expected to sign the bill.
The bill also provides for California tax-exempt subsidies to assist residents in obtaining health insurance if their income is below 600% of the federal poverty level ($74,940 for an individual; $154,500 for a household of four). The FTB will impose a penalty of up to $695 annually against individuals who fail to comply with the mandate. Employers must annually provide health care coverage information to the FTB by March 31 and will be subject to penalties for failure to comply.
The bill can be found at: