PROTECTING HEALTH CARE FAIRNESS AND AFFORDABILITY: Each individual health insurance policy providing coverage of the type specified in subdivisions (1), (2), (4), (11) and (12) of section 38a-469 of the general statutes delivered, issued for delivery, renewed, amended or continued in this state shall, at a minimum, provide coverage, and not impose any cost-sharing requirements. Any applicable individual who fails to maintain minimum essential coverage for one or more months in any taxable year shall be subject to a penalty for each month that such individual fails to maintain minimum essential coverage. The monthly penalty amount shall be one-twelfth of the greater of five hundred dollars or two per cent of such individual’s properly reported Connecticut adjusted gross income.