For millions, Obamacare coverage more expensive than penalties

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For about 7 million people, getting health coverage will cost more than paying Obamacare's individual mandate penalty.

The average penalty for not having coverage in 2016 rises 47 percent to $969, making it a significant factor in whether to buy insurance, according to a new analysis released Wednesday from the Kaiser Family Foundation.

But the penalty varies based on whether the person qualifies for a premium subsidy.

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