Letting PS+ expire - Anything permanently lost?

Hey all,

My PS+ is about to expire, but I don't do any online gaming or purchase much these days, so I'd like to wait for a good deal on a 1 year sub until I subscribe again.

I'm curious if anyone has any experience with letting a subscription expire, then renewing it later. I'm in Canada if it matters.

Am I only losing access to my free games + online play? I guess I get all my free games back when I re-sub? Will my PS Now still work? Anything else that I might want to know before letting it expire?

Thanks!