Do you have a short term health insurance policy? Or are you considering a short term health insurance policy instead of a regular policy because the premium is low? If you replied yes to either of these questions please read this article,
The Hidden Risks of Short-Term Health Plans . Short term policies do not fulfill the Affordable Care requirements: they still have preexisting condition clauses, lifetime maximums, do not offer preventative care or some of the essential health benefits. And, because they do not fulfill the requirements, you will receive the penalty of $695 or 2.5% of your 2016 income on your taxes next year. I recommend short term health insurance policies only in the following scenarios: you missed the open enrollment; you were laid off the last quarter of the year. The last is due to the loophole in the Affordable Care Act. If you do not have health insurance for 3 months of the year or less you do not receive the penalty.