We sought comment on the timing of when a premium payment should be Start Printed Page 12284required to be received by an FF - SHOP when coverage is effectuated retroactively, and explained that we were considering a policy under which payments for the first month's coverage and all months of
the retroactive coverage would have to be received and processed no later than 30 days after the event that triggers the eligibility for retroactive coverage.
Response: We believe that 30 days after the event that triggers eligibility for
retroactive coverage is sufficient time for employer groups to make their full premium payment in order to have
retroactive coverage.
The commenter recommended that issuers not be required to effectuate
retroactive coverage without full payment.
Comment: We received a comment expressing concern that employer groups will not be able to make the full premium payment within 30 days after the event that triggers eligibility for
retroactive coverage, depending on how many months of retroactivity are covered.
Other commenters requested the expansion of existing special enrollment periods, including adding provider network and drug formulary errors to the special enrollment period for plan or benefit display errors under paragraph (d)(4) of this section, allowing dependents of Indians to enroll in or change enrollments along with the Indian through the special enrollment period in paragraph (d)(8) of this section, and allowing for
a retroactive coverage start date for consumers who qualify for the special enrollment period due to a loss of minimum essential coverage in paragraph (d)(1) of this section.
We believe this balances the need to provide dependents of the deceased a special enrollment period, while addressing requests from commenters to limit the middle of the month and
retroactive coverage effective dates.
This allows for
the retroactive coverage of losses from 2012 and 2013, and also 2014.
Not exact matches
However, they're going to have what's considered a
retroactive date, which, if they maintain continuous
coverage, they are going to maintain that June 1, 2017,
retroactive date.
Allen's representative work includes the successful defense of a multi-million dollar insurance
coverage and rescission suit by Lloyd's of London; dismissal of a six - figure claim for
retroactive premiums against the St. John Community Development Center; summary judgments (affirmed on appeal) against Essex Insurance Company and Liberty Mutual Fire Insurance Company for breach of their respective insurance contracts; trial verdicts against Allstate Fire and Casualty Insurance Company and Liberty Mutual for insurance bad faith; and numerous confidential five, six, and seven figure settlements reached in insurance disputes of all types (including residential and commercial property, commercial general liability, auto liability, errors and omissions, negligent procurement, and insurer bad faith).
With respect to effective dates other than regular effective dates, meaning
retroactive or accelerated
coverage effective dates resulting from enrollment under certain special enrollment periods (including birth and marriage), resulting from the resolution of appeals, or resulting from amounts newly due for prior
coverage based on issuer corrections of under - billing, we considered a premium payment deadline of 10 - 15 business days from when the issuer receives the enrollment transaction.
For the FFE, in cases where a person, consistent with an issuer's payment policy, makes their premium payment after the
coverage effective date, but before the premium payment deadline set by the issuer, the consumer would receive a
retroactive effective date.
For the FFE, in cases where an enrollee, consistent with an issuer's payment policy, makes his or her premium payment after the
coverage effective date, but before the premium payment deadline set by the issuer, the enrollee would receive a
retroactive effective date.
When a
retroactive date is included, no
coverage is provided for claims resulting from events that occurred prior to that date.
When shopping for claims - made
coverage, try to avoid buying a policy that includes a
retroactive date.
You may have to pay
retroactive premiums, but if it's possible, you'll have the same
coverage you had before.
A
retroactive date is the specific date a policy's
coverage begins.
A loss must occur between the
retroactive date and the end of the policy period for
coverage to apply.
With respect to effective dates other than regular effective dates, meaning
retroactive or accelerated
coverage effective dates resulting from enrollment under certain special enrollment periods (including birth and marriage), resulting from the resolution of appeals, or resulting from amounts newly due for prior
coverage based on issuer corrections of under - billing, we are considering a premium payment deadline of 10 - 15 business days from when the issuer receives the enrollment transaction.
This is called «
retroactive»
coverage.
Otherwise, you will lose
coverage for claims arising from events that occur between your old
retroactive and the new one.
You explain that you paid your COBRA premium late, but within the grace period, and that your COBRA health insurance has been reinstated with
coverage retroactive to June 1.
Claims which may relate to incidents occurring before the
coverage was active may not be covered, although some policies may have a
retroactive date, such that claims made during the policy period but which relate to an incident after the
retroactive date (where the
retroactive date is earlier than the inception date of the policy) are covered.
Incidents occurring before the
coverage was activated may not be covered, although some policies may include
retroactive date..
We also proposed to explicitly state that the requirement for Exchanges to ensure appropriate actions are taken in connection with
retroactive terminations, currently set forth in paragraph (d)(6) regarding special enrollment periods, applies to all
retroactive terminations, including valid cancellations of
coverage under a «free look» law.
Subsequent policy renewals without any lapse in
coverage will retain the original
retroactive date.