No. When you are in a grace period that spans a calendar year, your insurance company will send you a bill for your January premium and will also bill you for your past-due premium debt. If you only pay the January premium, the insurance company can apply that payment to the amount of back due premium debt that you still owe. Unless you catch up on your premium debt from this year and pay the January premium by the end of the grace period, your insurer can cancel your new coverage and retroactively terminate your current coverage to the last day of the first month of your grace period. This will be the case whether or not your insurance company has adopted the past-due premium collection practice.