What happens if I pay my premium late?

Can I reinstate my plan if I forgot to pay last month but I still want insurance?

Do I get a special enrollment if I forget to pay and my plan gets terminated?

If you are late paying your premium, you’re at risk of losing coverage.

If you receive an advanced premium tax credit (aka subsidy), then you’ll have a 90 day period to catch up on payments. If you don’t have an advanced premium tax credit, the grace period is generally 31 days. After the grace period, your insurer can terminate your policy. It does not count as a qualifying event if your plan is terminated because you didn’t make your premium payments, so you will not get a special enrollment period. However, you can still go directly to the carrier to get a new plan during enrollment or get a short term plan outside of enrollment. To learn more about short term plans, see our blog.

Andy Lambert

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