Grace Periods for Failing to Pay Insurance Premiums: What Consumers Need to Know
On July 16, the Obama Administration issued guidance for insurers in the federally facilitated marketplaces (FFMs), clarifying a requirement to provide policyholders receiving premium subsidies with a grace period of up to 90 days if they fail to pay their premiums. How does the grace period work? Under federal rules, insurance companies participating on the FFMs can drop policyholders […]