You may have heard that NJMC Insurance has a new pay restoration system. Maintaining good coverage is important for you and your family, so it’s important to learn more about what this new system is all about.
Pay Restoration System
The new pay restoration system will help individuals who experience a cancellation or non-renewal of their primary insurance by helping them find appropriate coverage through another carrier. This service is only available to those who were members of NJMC at the time of termination or cancellation. This change applies to any health insurance policy terminated or canceled on or after December 31, 2018. This also includes any new policies issued on or after December 31, 2018.
The pay restoration feature will be provided at no extra charge by all NJMC member companies to its members who have been affected by the termination of coverage, excluding the following:
• If you are non-renewed; and/or
• If your current policy is not renewed for reasons other than cancellation; and/or
• If your current group health insurance has an end date due to a plan year change. (However, we will continue to offer coverage in accordance with COBRA requirements.)
What does this mean for me?
This means that if your health insurance plan terminates before the end of this year, you will be able to take advantage of NJMC’s pay restoration services. NJMC Pay Surcharge Ticket
When did this change go into effect? This new policy went into effect on December 31st, 2018. If you have had a cancellation or non-renewal prior to this date, the old policy still applies. It is important that you check your cancellation letter to find out when your coverage ended. Read on for information about how the pay restoration.