Health Insurance
Property & Casualty
Additional Information
Privacy Policy
Employment
Legal & Disclaimer
Life happens, and while you should make every effort to pay your health insurance premium on time, health insurance plans generally have grace periods. Your bill due date will vary by insurance company, but usually 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 through Nevada Health Link (on-exchange), it may be up to 90 days.
It is NOT a good idea to get behind, however. Most people that fall 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. If it is a new policy, the premium usually needs to be paid before the policy starts. Also, insurance companies will 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.
The grace period is a short period after a payment is due that is allotted to avoid cancellation/termination. In health insurance, as long as you make your payment during the grace period, you will avoid losing your coverage.
If you have a Marketplace plan through Nevada Health Link and you qualified for an advanced premium tax credit, then your grace period is usually 90 days seeing that you’ve paid at least one month for the benefit year. 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.
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.
It is important to note that if you want to keep your health insurance beyond the grace period, you must completely catch up on payments. You cannot just stay three months behind on payments and maintain your coverage.
If your health insurance plan was terminated due to non-payment, then you will have the opportunity to re-enroll in a health insurance plan only during the next “Open Enrollment” which is usually November 1st through January 15th of each year. There is a catch, though. According to market stabilization rules that were finalized in 2017, health insurance companies may be able to recoup past-due premiums.
If you enroll in a plan offered by the same health insurance company within 12 months of your policy having been canceled, then the health insurance company can require that you pay the past-due amount before your coverage is in effect. This may be either one month or three months of premiums, depending on the length of the grace period. Alternately, if you are re-enrolling within the grace period, the health insurance company may require you to pay your past-due premiums.
The grace period does not reset at the end of the policy term if it auto-renews. This means that if you miss November and December payments and your plan auto-renews in January, you still need to catch up on payments to keep your coverage.
Your monthly health insurance premium does not need to be a burden. At Nevada Insurance Enrollment, our licensed health insurance agents can help you understand the breakdown of your health insurance premium or get you signed up for affordable health insurance. Call anytime of the year for options.
Unfortunately, failing to collect the other driver’s personal information and provide them with your own can delay the claims process. On top of that, in Nevada, leaving the scene of an accident without providing personal information is technically a hit and run, which could result in criminal charges.
The good news is that even those with very limited incomes can get low-cost health insurance or even free medical coverage through the Affordable Care Act’s Marketplace health insurance plans, often referred to as Obamacare, or through Nevada Medicaid.
Your auto insurance premium is based on a variety of factors, your personal info may cause you to pay more or less for your coverage than your neighbor pays. The application process for auto insurance can be complicated, and not verifying important information or even deliberately lying can have serious consequences.
By page visits (this month)
By page visits (this month)
Now that the IRS is involved with making sure you have a “qualified health insurance plan” in place, you’ll want to avoid the penalties if at all possible.
There will be a new Director for the Nevada Health Link website and it will now have five health insurance companies selling their health insurance plans.
Do you have a private health insurance plan? This article describes the increases, and some decreases, in health insurance premiums for the upcoming year in NV.
While the number of Nevadans now using Medicaid coverage relieve some of the charity care expenses a hospital must absorb, it still does not cover all costs.