Major medical plans in Idaho and HumanaOne dental and vision plans have initial effective dates of the first of the following month. That means applications must be received by July 31 for Aug 1 effective date. Applying in early August moves the effective date to Sep 1. So, a little procrastination can put coverage off for a month.
So what?
One month later can mean a new pricing quarter — for major medical, companies increase their initial rates every quarter, and not all companies operate on the same quarterly schedule. That extra month can mean paying more for all 12 months than you would’ve had you obtained coverage a month earlier.
Depending on when your last coverage ended, one month could create a gap in coverage of greater than 63 days, which means for adults (and kids on high risk pool plans) that pre-existing conditions can be excluded from coverage for 12 months.
One month without coverage means just that. Murphy’s law could strike, finding yourself with 5 and 6 figure medical bills without insurance. It happens…. Often…which contributes to the mess our society is in when it comes to health insurance.
Dental and vision coverage is usually not life changing should it start a month later. But should you forget your coverage hasn’t started and you incur expenses that turn out not to be covered, it will be more than a little annoying.
Plan ahead. Want coverage Aug 1? Get’r done before playing weekend warrior! Our online applications make it fast and easy!
