Extension of Grace Periods

On May, 7, 2020, the Department of Commerce and Insurance issued Insurance Bulletin 20-10, extending the application of Bulletin 20-05 until June 15, 2020.

As background, Bulletin 20-05 strongly encourages health carriers to extend a grace period of at least 60 days from coverage in effect on March 13, 2020, if premiums are unpaid (as mentioned in the March 31, 2020, Compliance Corner article “COVID-19 and Health Insurance Coverage: Executive Orders and Insurance Bulletins”), and is effective until May 15, 2020. Bulletin 20-10 extends the effective date until June 15, 2020, in light of the continued public health emergency. As such, all insurers are strongly encouraged to extend grace periods until June 15, 2020.

Employers should be aware of these developments.

Insurance Bulletin 20-10 »
Insurance Bulletin 20-05 »