Next year, people holding out on signing up for Obamacare are in for some sticker shock. The fine for avoiding Obamacare is is set to jump 47 percent to $969 per household, according to the Kaiser Family Foundation.

That marks a significant increase from 2014, or Obamacare's first year, when individuals faced a penalty of just $95 per person, or 1 percent of their income, whichever was higher.

CBS news writes, "While the government hasn't kept the penalties secret, many Americans may not fully grasp the escalating fines, given the law's complexity. But plenty have already felt the penalty in its first year: 7.5 million taxpayers reported paying up in 2014 for lacking insurance, with an average fine of $200."

"Certainly, people should know about it. Whether they do know about it or not is another question," said Larry Levitt, senior vice president for special initiatives at the Kaiser Family Foundation. "People have been confused about Obamacare from the start, not just the penalties but the help available to help pay their premiums."

For next year the penalties are $695 per adult as well as $347.50 per child, or 2.5 percent of family income, whichever is greater. The maximum flat-dollar amount will be $2,085 per family.

"The penalties will be quite substantial in 2016," Levitt said. "The financial incentive is real."

But it still might pay to hold out, especially if you can't afford it. "7.1 million uninsured Americans will find that the cheapest ACA plan will still cost more than the penalty, Kaiser found. Needless to say, that could sway their decision toward remaining uninsured."

Open enrollment to sign up end January 31.

"Generally, the higher your income, the higher the fee you will have to pay," Healthcare.gov CEO Kevin Counihan wrote in a blog post.