Why health insurance is important

Health insurance: How it protects you from health and financial risks

• Health insurance covers essential health benefits critical to maintaining your health and treating illness and accidents
• Health insurance protects you from unexpected, high medical costs.
• You pay less for covered in-network health care, even before you meet your

  deductible

  The amount you pay for covered health care services before your insurance plan starts to pay. With a $2,000 deductible, for example, you pay the first $2,000 of covered services yourself.

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• You get free preventive care, like vaccines, screenings, and some check-ups, even before you meet your deductible.
• If you have a Marketplace plan or other

  qualifying health coverage

  Any health insurance that meets the Affordable Care Act requirement for coverage. The fee for not having health insurance no longer applies. This means you no longer pay a tax penalty for not having health coverage.

  through the plan year 2018, you don’t have to pay

  the penalty that people without coverage must pay

  A payment ("penalty," "fine," "individual mandate") you made when you filed federal taxes if you didn't have health insurance that counted as qualifying health coverage for plan years 2018 and earlier. The fee for not having health insurance no longer applies. This means you no longer pay a tax penalty for not having health coverage.

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