Pay missed health insurance premiums ASAP
By Admin | November 20, 2017
If you fall behind on your health insurance payments, you generally have 90 days to pay before any sort of penalty, thanks to the Affordable Care Act.
However, a new rule is allowing insurers to also penalize anyone seeking coverage for 2018 for any missed payments during the last three months, or 90 days, of 2017. This essentially means the grace period for missing payments doesn’t apply for October, November and December.
If you have a marketplace plan for 2017 and are having difficulty paying your last three months of health insurance, financial experts are saying it’s better to cancel your plan instead of having missed payments on record. Otherwise, you won’t be able to get insurance for 2018 under the same company until the amount due is paid.
For more about paying for health insurance, including helpful tax reimbursement information,read “If You're Shopping For Health Insurance, Make Sure You're Paid Up On Old Plan” by NPR.