Under the federal mandate and state of Connecticut law, does an insurance company registered in Ct. have the right to terminate a ACA policy prior to the 31 days given (as quoted below) and 3 days before “open enrollment ” ends (in fact blocking the customer from getting coverage elsewhere), solely based on ‘not received payment , taking into consideration their invoice has following discloser :
“NOTICE: Full payment of the amount due must be received within 31 days of your due date or your benefit will be terminated. Our deposit of late or partial payments does not constitute acceptance or continuation of coverage. This invoice may also reflect a prior balance from a previous invoice. Failure to pay this prior balance by the of the current month may cause your coverage to be terminated.”
Keep in mind that this is related to 1st invoice under this policy so there are no ‘’previous invoice’’ .
Would I then be open for penalty for not having coverage until next enrollment period?