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

Simple ways to live a healthy life! Here are some health recommendations!

Simple ways to live a healthy life! Here are some health recommendations!

Retro Home Design Trends that are coming back

Want to modernize your home's interior design while paying homage to a little design nostalgia?

São Paulo: The best 9 Apartment Rentals for Digital Nomads

Keep reading for advice on one of the most important factors to consider when moving to São Paulo: housing!

The Most Popular Kitchen Trends in 2022

These are the best new kitchen trends to motivate your project, ranging from eco-friendly designs to daring finishes.
- Advertisement -

These All-Natural Home Remedies Will Help You Feel More Energized

Did you know that tiredness is the most common health complaint? These natural home cures for weariness are worth a shot.

Enjoy Music for Life, Not Just for Summer

Oticon, provides useful tips on how to protect your hearing now, to ensure you can continue to enjoy music for years to come
edealo.com
- Advertisement - Motel 6
transformerscon

Must read

Harvey Maria trend notes – Just add Colour to your Floors!

This year is all about making bold and beautiful colour choices for your home and having fun with chequered patterns.

Governor Vetoes Florida’s Court-Approved Redistricting Map

Governor Ron DeSantis has vetoed a new congressional map approved by fellow Republicans, Democrats and the Florida Supreme Court.
- Advertisement -
- Advertisement -sslate

You might also likeRELATED
Recommended to you