As you begin your adventure to prioritize your health and well-being, it's important to take the final step after enrolling in a health plan to ensure you get the most out of your coverage. Although you have enrolled in a health plan, you must also make your first payment before your enrollment is effectuated.

What is effectuation?

Enrollment effectuation is the date when your health plan becomes active and functional. It involves completing the required steps such as making your first premium payment and submitting documentation to guarantee the enrollment is entirely processed and becomes effective.

Your first payment, called your binder payment, is an industry term for the initial payment that secures your health coverage and is usually your first month's premium. The deadline for this payment can vary based on your policy and enrollment details. It is important to check your policy documents to know when your binder payment is due to keep your coverage active. Typically, this deadline is given when you enroll or briefly after. 

The cost of not being covered

If you do not take the final steps in enrolling in a health plan, you could risk not being covered and having to pay out-of-pocket for expensive medical care such as doctor visits, prescriptions, or hospital stays. In fact, just fixing a broken leg can cost up to $7,500 and a 3-day hospital stay is around $30,000 when you are not covered.* These unexpected medical emergencies could place a huge financial burden on you and your family.

In addition to facing high medical expenses without coverage, you might also overlook preventive care. Skipping regular check-ups and screenings, which can detect health issues early on, could lead to potential health problems in the future if you are not covered.

Take the final step

Many assume that once they've selected and enrolled in a plan, their enrollment process is complete. However, the final step is making your first payment, which ensures your enrollment is finalized.

If you have a MyPriority® health plan, paying your monthly premiums is convenient and flexible. The easiest way to make sure your plan effectuates is to set up autopay when you apply or you can pay online using autopay or a one-time payment, via phone or through mail.

If you need health coverage, get a free quote and see if you qualify for financial assistance.