Now that that the ACA has eliminated the penalty for foregoing health insurance (read our last blog post to learn more), you will not owe a tax penalty if you don’t have insurance. However, everyone should have some sort of coverage, even if it isn’t through a major insurance carrier. Two reliable options are short-term medical insurance and hospital indemnity insurance.
Short-term medical insurance is a temporary coverage. Many people who utilize this option are in between major medical policies. This insurance is designed with medical emergencies in mind, but there are a handful of plans that offer some preventive benefits.
Hospital Indemnity provides benefits that help pay for hospital, surgical and critical-illness related charges. Those benefits are paid out as a fixed dollar reimbursement, for covered expenses at specific durations. To read more on this topic, click on the button below.