A grace period will be prompted if you do not pay your monthly health insurance premium on-time, as required by your insurer. Once the grace period begins, you will have a set amount of time to pay the portion of your premium you are responsible for in full in order to avoid losing coverage.
If you enroll in coverage through Pennie and qualify for advance premium tax credits and have paid at least one full month’s premium during the plan year, your grace period will be 90 days. If you enroll in coverage through Pennie without APTC, the duration of the grace period is determined by your insurer but can be no less than 30 days as required by Pennsylvania law.
NOTE: Grace periods do not apply to your first months payment (“Binder Payment”). You must pay the first month’s premium ("binder payment") with your insurance company to complete the enrollment process. If you don’t make your binder payment, your policy will not take effect and you will not be enrolled in coverage.