I have had health insurance for all of 2014. ( jan and feb 2014 was from the company i worked for. I lost my job, and from march 1 2014 thru dec 2014 i was on obama care. I made less than i projected in 2014, yet i got a $ 695 penalty. why??
Generally someone owes the penalty if they didn't have coverage or an exemption for a month, however they can also owe money back if they owe back premium tax credits due to making more income than projected (or because they got tax credits, although they didn't qualify).
First you'll want to know if you owe back money from tax credits due to income, or if you wrongly got tax credits (for instance you had employer-coverage but didn't notify the Marketplace when you got subsidized coverage).
You'll want to look at repayment limits from the 8962 Premium Tax Credit form and ensure you are owing the right amount back.
Next you'll want to look into the 8965 exemptions form. Make sure you take all applicable exemptions (you'll find them and links to descriptions on our form page).
If you still owe money, then you can always look into additional deductions that lower MAGI. The lower your MAGI the less you owe back in tax credits.
If you still feel it is wrong, consider professional tax help. You may be missing something on the 8962, 8965, or even on another deduction.
ps. In your specific case you may have filed in such a way that shows that you still had coverage options through work when you had Marketplace assistance. You may have also forgot to take exemptions for the months you had employer coverage on your 8962 form. In other words, you may be paying a fee (wrongly) for the months you had employer coverage. I would check there. Indeed, nothing in what you described above shows that you should be owing back tax credits.