PSI Ohio Insurance Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Study for the Ohio Insurance Test. Prepare with flashcards and multiple choice questions, each question accompanied by hints and explanations. Excel in your exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

If a health insurance policy lapses, how many days do you have to submit an application for reinstatement?

30 days
45 days
60 days
90 days

The correct answer is: 45 days

When a health insurance policy lapses, the individual has a specific timeframe to submit an application for reinstatement, which is typically 45 days. This period is generally established to provide the insured a reasonable opportunity to restore their coverage without having to start the application process all over again. The 45-day mark allows individuals to reassess their needs and financial situation while ensuring that long-term coverage is not lost due to a temporary lapse in payments. In many states, insurers are mandated to inform policyholders of their rights to reinstate their policy within this timeframe, enhancing consumer protection. Submitting the application within these 45 days ensures that the insurer can evaluate the reinstatement request and, if approved, restore the policy to its previous status, eliminating gaps in coverage. Understanding this timeline is crucial for policyholders to maintain continuous health insurance coverage.