can health insurance be cancelled?

As in most cases, this depends on your insurance company and its rules. However, in most cases, health insurance cannot be cancelled. As with all questions related to health insurance, the answer is "it depends"; cancellation may be allowed by some insurance companies, but others may not allow it. Waiting periods are periods of time set by health insurance companies to ensure that their consumers do not just purchase an insurance plan just before an expensive surgery or treatment plan.

Short-term insurances do not cover pre-existing conditions, so they are really only a suitable solution for healthy applicants. Submitting your details constitutes permission for an agent to contact you with additional information about the cost and coverage details of health plans. Before this date, even if your application has been approved, you will not have access to your new health insurance coverage. There are 13 states where there is still a Medicaid coverage gap, and an estimated 2.3 million people are unable to access affordable health coverage as a result.

Cancelling the plan or not paying premiums does not count as an involuntary loss, but voluntarily leaving a job and thus losing employer-sponsored health coverage does count as an involuntary loss of coverage. State laws differ in their policies on voiding health insurance policies, so you will need to check with your state insurance commissioner. Even if your health insurance company allows this practice, it does not offer any specific advantage that is valuable enough to make a big difference in your coverage or premiums. If your insurance company does not approve the override, it is important to try to negotiate an override of your plan if necessary.

Different rules apply when changing health insurance providers, and you can avoid repeating the same waiting periods when changing coverage. But if you are healthy, do not qualify for premium subsidies, and find yourself without coverage for a month or two at the end of the year, it is worth considering a short-term plan. It is the insurance company's decision to drop coverage, but they are usually transparent about whether they can do so. In other words, it depends on your health insurance company and the rules they apply.

Erika Ossenfort
Erika Ossenfort

Hipster-friendly food fan. Professional pop culture advocate. Freelance internet ninja. Devoted web fan. Extreme music evangelist.

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