Monthly vs. quaterly insurance premiums?

Question

is it better to have health insurance premiums billed monthly or quarterly? is there a difference? if so why?

Answer 1

qtrly - you have to make sure you are saving enough to pay the 3 times bigger premium rather than same smaller amt each month - easier to budget monthly

Answer 2

Usually they give you a better rate if you pay quarterly.  Also you won't have an invoice fee every month for every bill they send you.

Answer 3

usually there is a very small discount if you pay quarterly instead of monthly.

Answer 4

find out if your insurance company gives a discount for paying quarterly instead of monthly.  The only advantage if they don't offer a discount is that you wouldn't be paying a billing fee every month you would just pay it every three months.

Answer 5

Do you like paying three months of premiums in one month four times a year or do you not mind that you pay a little more to pay monthly? That is really the only difference here.

My company has found that people keep insurance when they pay either yearly or monthly. Quarterly or semi-annually payments usually stop the insurance.

Answer 6

Look out for the grace period.  On a monthly bill, there usually is a very small grace period. That;s why compnies who bill monthly prefer to have it paid by auto-check.

On a quarterly pay basis, there may be a longer race period. This is something important to keep in mind. You may possibly be away, on vacation,  miss the due date, and a have a big headache on your hands.