COBRA - ACH Payment Processing Timelines

Understanding Your ACH Payment Schedule

If you choose to pay your COBRA premiums through Automated Clearing House (ACH) payments, you authorize ThrivePass to withdraw premium payments directly from your designated bank account.

ACH payments are typically submitted for processing on the scheduled withdrawal date and may take 3–5 business days to clear through the banking system. Processing times may vary depending on your financial institution.

When Your Payment Is Applied

Your ACH payment will be applied to your COBRA account once:

1. The ACH transaction has been successfully submitted to your bank, and
2. The payment has cleared and been confirmed by the banking network.

After the payment has been successfully processed, ThrivePass will update your account to reflect the premium payment received. If your payment satisfies any outstanding premium balance, your COBRA coverage will remain active or be reinstated, as applicable.

Coverage updates sent to insurance carriers typically occur within 7–10 business days after the payment has been successfully processed.

Why Did My Scheduled ACH Payment Date Change?

If you scheduled a one-time ACH payment for a future premium period, you may notice that your payment date changes after updating your payment information.

This occurs because ACH payments are processed only for current outstanding premium balances. If your current month's premium has already been paid in full, there is no payment available to process at that time.

When payment information is updated, the system reviews your account and recalculates the next available ACH processing date. As a result, your scheduled payment date may move to a later date.

What This Means for You

• ACH payments are submitted only for premiums that are currently due.
• Future premiums cannot be paid in advance through the one-time ACH payment process.
• Updating your bank account or payment information may cause the scheduled payment date to be recalculated.
• If your payment date changes, please verify the new scheduled date displayed in your account.

Important Note About ACH Payments

If an ACH payment is returned by the bank due to insufficient funds, a closed account, invalid banking information, or another banking-related issue, the payment will not be applied to your COBRA account.

A returned ACH payment may result in:

• An outstanding premium balance remaining due.
• A delay in coverage reinstatement.
• Potential termination of COBRA coverage if required premiums are not received within applicable COBRA payment deadlines.

To avoid delays, please ensure your banking information is accurate and that sufficient funds are available on the scheduled withdrawal date.

Important Note About Payment Timing

Scheduling an ACH payment does not guarantee immediate coverage reinstatement. Coverage actions are based on the successful completion and clearing of the ACH transaction. Until the payment has been fully processed, your account may continue to show an outstanding balance.

Frequently Asked Questions (FAQ)

Why did my ACH payment date change?

Your ACH payment date may change if you update your payment information after scheduling a one-time ACH payment. When an update is made, the system recalculates the next available ACH processing date based on currently due premiums.

Why wasn't my payment processed on the date I originally selected?

The system only processes payments for premiums that are currently due. If your current month's premium was already paid in full, there was no outstanding balance available for payment processing on the scheduled date.

Can I make an ACH payment for a future premium month?

No. One-time ACH payments can only be processed for premiums that are currently due. The system does not collect payments in advance for future premium periods.

What happens if I update my bank account information?

When payment information is updated, the system reviews your account and determines the next available ACH processing date. This may result in a new payment date being assigned.

Will I be notified if my payment date changes?

If notification functionality is available for your plan, you may receive a notification when your payment date changes. If you do not receive a notification, we recommend checking your account regularly to confirm your scheduled payment date.

How can I verify my payment date?

Log in to your member account and review the payment section to see your currently scheduled ACH payment date.

What should I do if the new payment date does not work for me?

Contact Customer Support as soon as possible to discuss available payment options and help avoid any interruption in coverage.

Who should I contact if I have questions about my premium due date or scheduled payment?

If you have questions regarding your premium due date, ACH payment schedule, or account status, please contact Customer Support for assistance.

ACH payments are processed only for premiums that are currently due and typically require 3–5 business days to clear. Updating banking information may cause the system to recalculate your next payment date, particularly when no current premium balance exists. Members should regularly review their scheduled payment date and account status to ensure timely payment and uninterrupted COBRA coverage.