COVID-19 UPDATE 4/28/2020
A recent Executive Order issued by Governor Cuomo, together with recent amendments to the insurance and banking regulations issued by the New York State Department of Financial Services, extend grace periods and give you other rights under your individual, small group, student blanket comprehensive, or child insurance policy or contract if you can demonstrate financial hardship as a result of the novel coronavirus pandemic. These grace periods and rights are currently in effect but are temporary, though they may be extended further.
A copy of the Executive Order and regulations can be found at: https://www.governor.ny.gov/sites/governor.ny.gov/files/atoms/files/EO_202.14_final.pdf
Health Insurance Premium Payments - Grace Period
If you can demonstrate financial hardship as a result of the COVID-19 pandemic, your insurer must extend to 11:59pm on June 1, 2020 or the expiration of the applicable contractual grace period, whichever is later, your individual, small group, student blanket comprehensive, or child insurance policy or contract. If you do not make a timely premium payment and can demonstrate financial hardship as a result of the COVID-19 pandemic, your insurer may not impose any late fees relating to the premium payment or report you to a credit reporting agency or a debt collection agency regarding such premium payment. Insurers shall be responsible for the payment of claims during this period and may not retroactively cancel any insurance policy or contract for non-payment of premium during this period.
How to Demonstrate Financial Hardship
If you are unable to make a timely health insurance premium payment due to financial hardship as a result of the COVID-19 pandemic, you may submit to your insurer a statement that you swear or affirm in writing under penalty of perjury that you are experiencing financial hardship as a result of the COVID-19 pandemic, which the insurer shall accept as satisfactory proof. Such statement is not required to be notarized.
