You are probably among the 90.6 percent of Americans who have some kind of health insurance, which is a good thing. In your case, you may have CareFirst BlueShield Insurance coverage, which is offered by Blue Cross Blue Shield, a national insurance provider.
However, you may want to cancel CareFirst insurance coverage for various reasons. But before you fill out the CareFirst cancellation form and terminate your coverage, you need to determine whether your reasons for doing so are valid or you should reconsider your decision.
In addition, you must understand the implications of not being covered by a health insurer if you get sick or get into an accident.
Valid Reasons for Canceling Health Insurance Plans
Below are some of the reasons for canceling your health insurance plan.
- If you are unhappy with your current health insurer’s plan and feel you would be better off with another plan, you can cancel your coverage. In such a case, you could opt for a different insurer or a different plan offered by the same health insurance company.
- When you move to a different state and your health insurance plan does not provide coverage there, it makes sense to change the plan to something more suitable. For example, CareFirst Insurance provides coverage for people in D.C., Maryland, Washington and Northern Virginia. If you move to a different state like California, you may have no choice but to opt for a different health insurer.
- If you prefer a particular primary care provider and CareFirst Insurance doesn’t include them in its network, you could move to a health plan that will enable you to continue seeing your current doctor.
Why Canceling CareFirst Insurance May Be a Bad Idea
The biggest danger of canceling your insurance lies in the lack of coverage you may experience for a time.
Without insurance, you are likely to incur huge and unmanageable medical bills if you fall sick or get involved in an accident of some kind. Studies show that 66.5 percent of people who file for bankruptcy do so due to medical issues, including the unpaid time off work and high costs of obtaining medical care.
For that reason, you should not fill out your CareFirst termination form unless you know how you will be getting alternative health insurance coverage. And the best way to make changes is during the Open Enrollment period or the alternative Special Enrollment Period, which are the designated periods for changing health insurers.
How to Cancel CareFirst Insurance
If you intend to cancel CareFirst insurance, you should implement the tips below.
- If you are part of a group HSA, you can close it or convert it into an individual HSA. To cancel the group HSA, contact your benefits administrator or employer and follow the instructions they give you for terminating the HSA.
- For any help with closing your account, contact the CareFirst customer service representatives using the toll-free number: 866-758-6119.
- To cancel your insurance plan, contact the above number or the number on the back of your CareFirst insurance card. Ask to speak to the customer service representative. And when you get through, request information concerning cancellation.
- Remember your Social Security number, date of birth and member ID. You may need to provide the information for identity verification purposes during the insurance termination process. However, if you are not the primary policyholder, you must get that person’s information and put it in when prompted to do so.
- During the cancellation process, you need to fill in the CareFirst termination form. You can download and print it or request it via fax. And then fill in the required details, upload it and send it, or fax it back to the number you have been given via the phone. You must provide a reason for termination and your signature.
- Once you submit your request for cancellation in writing, you can wait for it to be processed. That may take a week or two.
Health insurance companies require you to submit your termination request in writing. So, be sure to fill out your termination form. Otherwise, your cancellation request is unlikely to be processed.
- Statista: Number of people with health insurance in the United States from 1990 to 2020
- CareFirst: Home
- MedilinePlus.Gov: Choosing a primary care provider
- HealthCare.Gov: Open Enrollment Period
- HealthCare.Gov: Special Enrollment Period (SEP)
- CareFirst: Closing Your Account
- CareFirst: Member ID card
- CareFirst: Individual Insurance Coverage Termination Form
- CNBC: This Is the Real Reason Most Americans File for Bankruptcy
- Census.gov: Health Insurance Coverage in the United States: 2020
I have been a freelance writer since 2011. When I am not writing, I enjoy reading, watching cooking and lifestyle shows, and fantasizing about world travels.