for 2019 I am wanting to end my health insurance to save money. My question is will there be a penalty if i cancel my health insurance for 2019 to save money? If i know there is a 99% chance I will not need to go to the doctor at all and I am willing to take that 1% risk to have no health insurance, is ok to cancel my coverage and not be punished for it by the US?
Hello. Unless something changes between now and next tax season, you will be punished when you do your taxes next year. They will charge you a fee. I have no idea how they configure the fee for each person. If you cannot afford insurance, try to get basic medicaid if you qualify, because that will count and you will not be charged.
The US government is corrupt in many ways. They cannot legally punish you in any other way for this, as far as I know.