Yes it is legal to not have health insurance. However, a penalty is scheduled to begin in 2014 under the Patient Protection and Affordable Care Act that will impose the greater of $95 or 1% of income as an additional tax to those who do not obtain health insurance.
This penalty tax will increase to the greater of $695 or 2.5% of income in 2016.
This penalty tax will increase to the greater of $695 or 2.5% of income in 2016.