Are there any mandates as to what the minimum requirements that a health insurance company must provide? Because if not, then a company charge an individual a $1 monthly premium (or they can pay a lump sum of $12 annually) for their health insurance. The insurance would have no deductable and would pay the first $12 of medical expenses accrued during the year. And this could be OTC meds or any medical supply. Essentially, the person would be able to buy insurance for $12, meet the federal guidelines and thus avert a fine, and then they could buy some tylenol, ibuprofen, and a box of bandaids and get their $12 back.