How many days do insurance companies have to notify an applicant of a denial for reinstatement of a lapsed health insurance policy?

Insurance companies are required to notify applicants of a denial for reinstatement of a lapsed health insurance policy within 45 days. This timeframe is established by regulatory standards to ensure that applicants are made aware of the status of their application in a timely manner. Notification within this period allows individuals to either seek clarification on the denial or explore alternative options for coverage, thereby promoting transparency and fairness in the insurance process. The 45-day requirement serves as a protective measure for applicants, enhancing their ability to make informed decisions regarding their health insurance needs.