From school openings to job security, to personal budgets and safety, we all have plenty to worry about right now. Luckily, your health insurance premium might not be one of them. Many health insurance providers have announced that they will be offering a variety of solutions to help consumers make their regular health insurance premium payments.
The pandemic situation has created a curious combination of events in these past few months. Due to fears of coronavirus, and shutdowns in many areas, the numbers of elective procedures and office visits at this time have sharply declined. With consumers avoiding both doctor appointments and emergency rooms, healthcare providers have reported a 30 percent drop in inpatient care, a 25 percent drop in outpatient care, and a 35 percent drop in physician services.
Naturally, such an enormous drop in healthcare services has equalled a decline in health insurance claims. Many of the major health insurance providers will be extending that savings to their customers, which can be great news if you’re worried about making premium payments right now or in the near future.
Depending upon your carrier, you might be able to take advantage of these provisions:
- A credit for premiums paid in previous months
- A discount on upcoming premiums due
- An extended grace period for making premium payments
- Suspension of out-of-pocket charges on some healthcare services
Look for a notice from your health insurance provider, or you can call them directly to discover what help they might be offering to their customers. Alternately, feel free to call us and we’ll assist you in locating answers.
This is all great news, but we do want to caution you about one potential problem: Considering that preventive care accounts for many of the healthcare services postponed at this time, some of those avoiding doctor visits might be at increased risk of chronic health problems in the future. Stay in touch with your doctor, and discuss with them alternate means of accessing care. They will advise you of which preventive tests or procedures are most important, considering your personal risk factors, and help you make a plan to catch up on preventive care.