All premium payments, including your binder payments (first month’s premium), are processed by your insurance company. Pennie does not accept any form of payment for health coverage.
Binder Payments/First Month Payments
Pennie allows customers to easily submit their binder payment (first month’s premium) via the Pay Now button on their enrollment screen for participating insurers. If you do not wish to make your first month's payment now you can also wait to receive an invoice from your insurance carrier.
NOTE: Pennie does not accept payment for coverage. Pennie's Pay Now button connects customers directly to participating insurers payment systems.
Important to remember that you have as little as 2 weeks from the date of your invoice to make your binder payment. Your coverage is not in effect until your binder payment (first month’s premium) has been paid. There are no grace periods for binder payment deadlines. If you don't complete your first month's premium by the deadline, you will have to reapply for coverage and may not be eligible for the same coverage start date.
Monthly Premium Payments.
Like your binder payment, all premium payments should be paid to your insurance company. Insurance companies handle payments differently. Follow the instructions from your insurer about how and when to make your premium payment. You may be able to pay online.
NOTE: Pennie cannot answer billing questions. All billing matters are managed by your insurance company and all questions should be directed to them. If you have just enrolled, it may take up to one week for your new insurance company to process your new coverage and for your coverage to be reflected correctly in your Pennie account.
Premium payments, grace periods & termination