The Affordable Care Act and Cancellation of Individual Plans for Non Payment of Premium

The Affordable Care Act requires everyone to be enrolled in a health insurance plan with a few exceptions. If an individual policy is cancelled for non payment of premium, it is likely that the policy will not be reinstated. The repercussions are that most likely a new policy cannot be purchased until open enrollment with an effective date of January 1st, and depending on the date of the cancellation a penalty may be imposed by the IRS.

 

Please be certain that you premiums are paid on time.

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