You can only get penalized not having the following types of insurance:
- Automobile – Each state has it’s own penalties
- Workers Comp and statutory disability: Only if you have payroll or have hired employees. Each state has it’s own penalties.
- General Liability – Only when you already have a policy and if you hire subs who do not have coverage, the amount you pay them get’s charged against your general liability and workers comp.
- Medical Insurance- Only when a state charges for not buying into a program on your taxes. There were previously charges from ACA