Health Insurance Claims Assessment (HICA) Act
How do I calculate penalty?
Penalty is 5 percent of the total unpaid HICA due for the first two months. After two months, 5 percent of the unpaid HICA amount is assessed each month. The maximum late penalty is equal to 25 percent of the unpaid HICA owed.
To assist in calculating penalty, you may use our Variable Penalty and Interest Calculator.