Here is the Answer:
If you claim your son as a dependent, you’ll be responsible for paying the penalty if he doesn’t have health insurance this year.The penalty is the greater of $95 for every uninsured adult in a tax household or 1 percent of your annual family income over the income threshold that requires you to file a tax return. (The threshold is $13,050 for a head of household or $20,300 for a married couple filing jointly.).
To qualify for the flat $95 fine, a family’s income would have to be quite low. For most families, the 1 percent penalty will apply, says Brian Haile, senior vice president for health policy at Jackson Hewitt Tax Service. In your case, if your modified adjusted gross income is $60,000 and you file as head of household, the penalty would be $470 ($60,000 – $13,050 = $46,950 x 1 percent = $470).
“We tell people, that child could cost a lot more than a spare bedroom,” says Haile.
Source: Kaiser Health News