A Big Reason People Lose their Health Insurance (when it could’ve been avoided)

There are several reasons why one would lose their health insurance.In a lot of these cases, it is not the individual’s fault. Life can bring certain events that we don’t plan for and we are not held necessarily accountable for in the realm of health insurance. This can range from losing a job, getting married, and having a baby to name a few.

On the other hand, there are several reasons why one would lose their health insurance and it actually is their fault. For the purpose of this article were not going to get into Medicare or Medicaid or employer-based insurance. What we’re going to be discussing is the main reason why one will lose their health insurance on a privately based plan that they pay for on the private market.

How do you set up billing?

Yes. In my experience, this is the biggest reason why people lose their health insurance when it could have been avoided. What A lot of people do is set up their ongoing payment with their credit card or debit card. The problem is, if you ever have your card replaced because it was lost stolen, broken etc. it would then be your responsibility to update the payment info with the carrier. With so much going on in the world these days, it’s enough of a problem where some will fall through the cracks and lose their health insurance as a result.

The best measure you could take to counter this issue is by setting up your automatic payments with routing and account info. These numbers rarely ever change and it is more likely for you not to miss a payment as a result. Now obviously some people will still use their card because they get points, miles or whatever the case may be. Just keep in mind that the easiest way to avoid missing a payment is by setting it up directly through your bank account.