A few days ago, we mentioned that (at least) one of our carriers was offering to "adjust the customer’s current bill and to waive any late fees for any premium payments due between March 16 and April 30."
Well that was then, and this is now, and it's no longer just a nice gesture on the carriers' part. Our friends at the Ohio Insurance Agents association just tipped us:
Well that was then, and this is now, and it's no longer just a nice gesture on the carriers' part. Our friends at the Ohio Insurance Agents association just tipped us:
"This bulletin pertains to all insurers (“Insurers”) providing property and casualty, life, and long term care insurance policies (“policies”) in the State of Ohio. The purpose of this bulletin is to notify Insurers that they must provide their insureds with at least a 60-day grace period to pay insurance premiums or submit information."
As with the similar decree about group insurance (and from the Feds on ObamaPlans), it's critical to keep in mind that this is a deferral, not a waiver: at some point the bill will come due. So think long and hard about your financial status now vs early summer.
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