The Individual Shared Responsibility Penalty (ISRP) is a penalty imposed on individuals who do not maintain minimum essential health coverage (MEC) for themselves and their dependents for a month or more during the calendar year. The penalty is calculated as a percentage of the total household income for the year, up to the maximum amount set by law. For taxable years beginning in 2021, the maximum penalty is $2,880 per adult and $1,440 per child, or 2.5% of the total household income, whichever is greater. Taxpayers who are exempt from the requirement to maintain MEC or who qualify for a hardship exemption are not subject to the penalty.