This is a great option if you know you will not be using your account for a little while (like a summer vacation, business trip, etc.). Placing your account on hold will take effect on your next billing cycle going forward.
1. Click on the Account link or visit hulu.com/account
2. Locate the Your Account section on the right-hand side
3. Click Hold under Hold Your Subscription at the bottom of that section
4. Set the duration
5. Click Submit
You can place your account on hold up to three times in any three-month period. This is to help ensure the feature is only used when an account will be inactive for an extended length of time. Your Hulu subscription will be re-activated automatically after the specified duration and your credit card will be charged for the monthly subscription. The date your account is reactivated will be your billing date going forward. You can visit your account page and re-activate your subscription at any time.
Note that accounts billed through either iTunes or Amazon will not have the ability to place an account on hold.