What Happens If I Cancel My Health Insurance? 
Great question ! There would be a couple of immediate results . The first is that you would no longer have the benefit of insurance to help pay for costs should you become sick or injured . Those costs can be devastating to your financial stability . The second is that under the Affordable Care Act , there are penalties for not having insurance , that are leveled when you file your taxes for this year . The health insurance companies limit the ability to enroll in their programs , and many workplace plans will not drop you until the open enrollment period unless you meet specified conditions.Without knowing the reason that you are considering dropping your coverage , I would ask that you would have a plan in place before you actually do drop your coverage . If I can provide more information , please feel free to contact me . Thanks for asking ! 