The governor announced Wednesday a 60-day grace period for premium payments, policy cancellations and non-renewals of insurance policies beginning Wednesday, April 1.
The move is designed to help those who have been furloughed, laid off or fired during the coronavirus crisis and are unable to make insurance payments. This includes life, health, automotive, casualty and other types of insurance plans.
The grace period is not automatic - those wishing to take advantage of it must contact their insurance carriers.
The Connecticut Association of Health Plans and Insurance Association of Connecticut (IAC) praised the effort.
"The Connecticut Association of Health Plans and our member companies understand and appreciate that we are in unprecedented times. Carriers are here to support their members throughout this crisis. The COVID-19 pandemic can make it challenging, if not impossible, for some businesses and customers to pay their health insurance premiums. We are working diligently with those impacted to best address their needs by temporarily deferring premium payments, working out payment plans, and/or referring individuals and employers to those programs and services that can best support them during this difficult juncture," a statement from the Connecticut Association of Health Plans reads.
The statement went on to urge those who are able to pay their premiums to continue to do so to help the system stay afloat.
"Ultimately, the greatest consumer protection health carriers can offer consumers is the ability to pay medical claims once incurred. Hospitals and other providers rely heavily on claims payment as a means to continue providing the necessary community care. As such, it is imperative that those employers able to pay their premiums do so in a timely manner so as to help maintain stability in the overall delivery system."
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The IAC, which does not represent health insurance plans, said its members have also been taking steps to help customers during the pandemic.
“The COVID-19 pandemic has altered all of our lives. The Insurance Association of Connecticut (IAC) represents both property & casualty insurers and life insurance carriers. The IAC does not represent health insurance plans. Our member companies have already been taking actions to help those negatively affected by COVID-19 by voluntarily suspending cancellations for non-payment of premiums for 60 days, modifying payment plans, and working through coverage changes if necessary. We hope these actions, along with those provided by other businesses, state, and federal authorities, will help provide our insureds the breathing room they need to weather this crisis," the statement from IAC President Eric George reads.
