If an insured decides to cancel their health insurance policy, which of the following may be a consequence?

Choosing to cancel a health insurance policy can lead to various consequences, one of which is that the insured may face difficulties obtaining new coverage. When an individual cancels their health insurance, this action is noted in their records, and future insurers may view it unfavorably. Insurers often consider previous coverage history when underwriting new policies, assessing the risk associated with issuing a new policy to someone who has not maintained continuous coverage. This can lead to higher premiums or even denial of coverage altogether, particularly if the cancellation was due to reasons related to the individual's health.

The other choices present scenarios that are less common or not necessarily applicable. For instance, the loss of benefits is not always permanent if a person cancels their policy within a specific grace period or through proper channels. Premium refunds may not happen immediately as they are typically processed after cancellation is finalized, and providers may continue to accept patients regardless of their coverage status unless explicitly stated through contractual restrictions. Hence, the most significant consequence that can be accurately attributed to canceling a health insurance policy is the potential for difficulties in acquiring new coverage.