Oxford New York Small Group Premium Grace Period Extension Policy and Letters
Posted on April 17, 2020
As per New York State Emergency Regulation small group policy holders who can demonstrate a financial hardship due to COVID-19 can apply for an extension to pay future premiums until June 1, 2020 at 11:59 PM Eastern Time.
As such Oxford will be sending premium payment extension letters to all Oxford New York Small Group policy holders to advise them of the availability of the grace period extension and provide details. There are two letters, one for policy holders that have paid through April, and the other for policy holders that are unpaid for April and prior months.
Note: Under this policy March premium must be paid by 4/30, April premiums must be paid by 5/31, and the May premium grace period returns to normal and also must be paid by 5/31.
The letter for unpaid policy holders details the process to request a premium payment extension as follows:
In order to confirm your intent for an extension of premium payment(s), please send an email to email@example.com with the following verbiage:
- I hereby attest that I am experiencing financial hardship related to COVID-19 and would like to request a premium payment extension until June 1, 2020. I understand by doing so that I am contractually committed to pay March, April and May premium by June 1, 2020 at 11:59 p.m. Eastern Time.
If your intention is to have your current coverage lapse, please send an email to firstname.lastname@example.org with the following information:
- My intention is to have my current coverage lapse
- Group Name, Policy Number, Requested Termination Date, Reason for Termination
Click on the links below for a sample of each letter.