No, medical indemnity insurance isn't the same as a regular health insurance plan, or major medical insurance. Further, these plans are not considered minimum essential coverage that conforms to the Affordable Care Act (ACA), or Obamacare.
Medical indemnity plans may only cover a limited set of illnesses, injuries, drugs, and/or medical procedures, and may not cover hospital costs--so check your policy brochure carefully.
What's more, these plans are not always guaranteed issue, so you may have to go through the medical underwriting process. And, keep in mind, you may still incur a tax penalty for not having an Obamacare-compliant health plan.
For your particular health and financial needs, a medical indemnity plan may serve you best if you don't have a regular health, or major medical, insurance plan. So, be sure to enroll in a major medical insurance plan during the Open Enrollment Period or during a Special Enrollment Period if you qualify.
