Missed the April 1 deadline? Here’s why it might not be too late
April 1 has passed. But it’s possible you haven’t missed the boat on Health Insurance savings. Here’s why.
You missed the deadline, right? April 1 has been and gone and you meant to do something about saving some money on Health Insurance but life got in the way?
Well, here’s why it might not be too late for you.
There’s a common misconception that you HAVE to sort out your Health Insurance by April 1. It’s certainly a good idea to do so, because premiums rise and special offers are common.
But the fact is the so-called “April 1 deadline” only matters for a minority of policyholders.
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You can still switch just as easily, you can still save, and you shouldn’t beat yourself up for doing nothing before April Fools Day.
April 1 is the date that most premiums rise, so it’s also the date when you must pre-pay for the year ahead if you want to avoid the premium increase.
But April 1 is only a “deadline” as such if you want to pre-pay for the year. If you haven’t pre-paid, then your premium just went up but you’re still not locked in.
There are no lock-in contracts in Health Insurance. You can switch anytime, you can request a refund of unused premium if necessary, and you can now compare the post – April 1 prices when you shop around.
There was a spate of special joining offers in March because a lot of people switch in that month, but there are still some offers around, and there will be more offers leading up to the next big “deadline” for Health Insurance – June 30.
So go for it! You haven’t missed the boat after all.