LivingWhat Happens If You Do Not Pay Your Premium...

What Happens If You Do Not Pay Your Premium By The Due Date?

-

- Advertisment -sslate

Life happens, and while you should make every effort to pay your health insurance premium on time, health insurance plans generally will have grace periods. Your bill due date will vary by insurance company, but generally all insurance companies’ premiums are due on the 1st.

It is important to check with your insurance company. You may have a grace period of 30 days, or if your insurance plan is “ON Exchange” meaning, through Nevada Health Link, it may be up to 90 days.

It is NOT a good idea to get behind, however. Most people that get behind end up losing their coverage back to their last payment made, because coming up with 90 days of premium is not feasible for most.

insurance

If it is a new policy, nearly all insurance companies will need to be paid before the policy starts, or it will not start. And insurance companies do consider you “late” on the 2nd of the month if the bill was due the 1st of the month. It is especially important that if you cannot make your premium payment on time, speak with your insurance broker/agent to see what flexibility your policy may have.

What Is a Grace Period?

The grace period is a short period after your monthly health insurance payment is due. As long as you make your payment during the grace period, you will avoid losing your health insurance coverage.

If you have a Marketplace plan through Nevada Health Link and you qualify for advance payments of the premium tax credit and you have paid at least one full month’s premium during the benefit year, then your grace period is usually 90 days.

If you are behind on your payments, however, benefits may not be covered until the full payment has been caught up.

If you do not qualify for a premium tax credit, your grace period may be different. Your health insurance agent can give you information on the grace period for your policy.

What If I Miss My Grace Period?

insurance

If you do not make your payment during your grace period, then your health insurance policy is canceled retroactive to the last date your plan was paid for. In other words, if you miss your July, August and September payments and your policy is canceled, then no medical expenses incurred since the end of June are covered.

Sunshine Slate
Sunshine Slatehttps://www.sunshineslate.com
Sunshine Slate is your news, entertainment, music fashion website. We provide you with the latest breaking news and videos straight from the United States of America.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

From Arrest to Release: The Role of Bail Bonds in the Justice System

The judicial ecosystem comprises various components that work together to afford individuals their constitutional rights

The Balanced Approach to Considering an Uncontested Divorce

An approach such as an uncontested divorce angle can provide a semblance of peace in this otherwise tumultuous process.

Thriving After Divorce: A Guide to Successful Co-Parenting and Child Custody

Co-parenting is a shared endeavor that requires both parents to actively participate in raising their children despite a divorce or separation

A Guide to Co-Parenting and Shared Custody After Divorce

Co-parenting emerges as a strategy wherein both parents actively participate in raising their children, irrespective of the marriage's dissolution.
- Advertisement -

The Significant Role Of Lithium-Ion Capacitors In Today’s Electronics Market

Among the myriad components driving these devices, lithium-ion capacitors stand out as pivotal contributors.

Best Apps and Games for your New Mobile Phone

We can install any app from the google play store very quickly. Let’s take a look at some most amazing apps for android mobile phones.
edealo.com
- Advertisement -sslate
transformerscon

Must read

Best Apps and Games for your New Mobile Phone

We can install any app from the google play store very quickly. Let’s take a look at some most amazing apps for android mobile phones.

A Fresh Look at the Contemporary Trends Redefining Tiny Homes

Tiny homes have always stood but never more so than in modern design trends. Present-day tiny homes bank on eco-friendly solutions.
- Advertisement -
- Advertisement -sslate

You might also likeRELATED
Recommended to you