Additionally, you absolutely need basic health insurance. Medical bills can add up quickly, and if you do not have it, you can be crippled financially. If you cannot afford a comprehensive health insurance policy, you should at least get a high deductible or catastrophic health insurance plan. Many people struggle to afford health care even with health insurance, and choosing to go without insurance may lead to bankruptcy, if you have one catastrophic health event. Until 2019, The Affordable Care Act required you to carry health insurance, or you would be fined when you filed your taxes. Disability insurance can also protect you if you are seriously injured or become ill. If you have health insurance, you should consider the maximum amount your policy will pay. A million dollars may seem sufficient, but if you were to have cancer or another major illness, the costs of care might exceed that amount.
