Your Initial Premium Payment
All premium payments are your responsibility and are to be paid directly to the insurance carrier. Via Benefits Insurance Services doesn’t pay your premium. Your payment due date varies based on insurance carrier and plan type. Below are some general guidelines to help you know what to expect. Read Paying Your Premiums to the Carrier to learn about making your premium payment to the carrier. Read Paying Medicare Part A and Part B Premiums to learn about making payments to Medicare.
Many plans require the first month's premium payment at the time of your application. This is called a binder payment. The binder payment is required before the carrier will proceed with your application.
Plans that Require a Binder Payment
Medicare Supplement Insurance (Medigap) Policies
Most Medigap policy applications require a binder payment. If you don't pay the first month's premium at the time of your application, then you'll be sent a bill before your coverage effective date.
Individual and Family Plans
Most policy applications require a binder payment. If you miss the binder payment, call us as soon as possible to see what options are available.
You must pay your monthly premium, in full, directly to your insurance carrier by the due date, even if you get a policy through the Health Insurance Marketplace.
Vision and Dental Plans
These plans usually require a binder payment. If you don't pay the first month's premium at that time, then you'll be sent a bill before your coverage effective date.
Protection Plans
Protection plans usually require a binder payment. If you don't pay the first month's premium at that time, then you'll be sent a bill before your coverage effective date. Protection plans include, but are not limited to, accident, critical illness, and hospital indemnity coverage.
Plans that Don't Require a Binder Payment
Medicare Advantage and Medicare Prescription Drug Plans
Medicare first needs to process and approve your application. Once approved, the first bill typically arrives soon after your plan effective date.
Additional Questions
If you have any additional questions regarding your bill’s expected arrival, contact your insurance carrier. The carrier's contact information is generally on the back of your insurance ID card.