It is important to pay your monthly premium in full on a timely basis, according to your insurer’s payment deadline. Your insurer may terminate your coverage if you fail to pay your premium. The timeline for termination varies depending on whether you receive advance premium tax credits (APTC).
- If you receive APTC, you are eligible for a 3 month grace period, starting with the first month of non-premium payment. If you do not make a complete payment by the end of the grace period, your last day of coverage will be retroactively applied to the last day of the first month of the 3 month grace period.
- If you do not receive APTC, you are eligible for a 1 month grace period, based on Illinois regulations. If you do not make payment by the end of the grace period, your last day of coverage will be the last day of the 1 month grace period.
- Grace periods do not apply to your first month's payment which is the binder payment. You must pay the binder payment with your insurance company to complete the enrollment process. If you don’t make your binder payment, your policy will not take effect, and you will not be enrolled in coverage.
The grace period starts the first month you fail to pay, even if you make payments for the following months. You have the right to appeal your termination for non-payment if you believe your coverage was wrongly terminated. Please note that if you have been terminated for non-payment you will not be able to re-enroll in coverage until the next Open Enrollment period, unless you experience a qualifying life event.
Please reference Making your first and future premium payment for information on how to pay your premium.
Also see:
How long do I have to make my first premium payment?