Premium Deferral for Members Impacted by COVID-19 - Pharmacists Mutual Insurance Company

Written by anitra | Mar 18, 2020 9:25:47 PM

March 16. 2021

Pharmacists Mutual is always with you – especially during your time of need. We are providing premium deferral to members impacted by the COVID-19 pandemic.

What does this mean for you?
If you are a member in the District of Columbia, we will comply with Commissioner’s Order 03-2020. This means we will suspend non-pay cancellations from April 27, 2020 until one month after the end of the Public Health Emergency. You are still obligated to pay the full premium owed, but this obligation is delayed.

All members in District of Columbia will receive this consideration. We will resume billing one month after the end of the Public Health Emergency. If you need further accommodation after we resume billing, please contact us by phone at 515-295-2461, email at accounting@phmic.com, or mail at PO Box 370, Algona, IA 50511.

What does this mean for you?
Upon request, payments due on Pharmacists Mutual Insurance Company, Chiron Insurance Company, and Rx Life policies (administered by Pharmacists Mutual) may be deferred to provide extra time to work through this crisis. If you take advantage of this grace period, your policy will remain in place without coverage disruption or cancellation. You are still obligated to pay the full premium owed, but this obligation may be delayed.

If you are set up for automatic Electronic Fund Transfer (EFT) or PhMIC scheduled payments through our online payment system, those payments will continue to be processed as arranged. However, upon request, we will not assess fees if your account has insufficient funds during the deferral period. If you would like to have your automatic payment temporarily suspended, please call 800.247.5930 ext. 4120.

All members who do NOT have a late or reinstatement fee on their account qualify for this deferral.

Our thoughts are with you and your family. We hope we can provide some much-needed relief during this challenging time. Thank you for trusting us with your important insurance coverage needs.

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