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The Vermont Statutes Online
Title
08
:
Banking and Insurance
Chapter
107
:
HEALTH INSURANCE
Subchapter
002
:
CONTINUATION AND CONVERSION OF GROUP HEALTH INSURANCE POLICIES
§
4090b. Continuation; notice; terms
(a) A person
electing continuation shall notify the insurer, or the policyholder, or the
contractor, or agent for the group if the policyholder did not contract for the
policy directly with the insurer, of such election in writing within 60 days
after receiving notice following the occurrence of a qualifying event pursuant
to subsection 4090a(e) of this title. Notice of election to continue under the
group policy shall be accompanied by the initial contribution, which shall
include payment for the period from the qualifying event through the end of the
month in which the election is made.
(b)
Contributions shall be due on a monthly basis in advance to the insurer or the
insurer's agent, and shall not be more than 102 percent of the group rate for
the insurance being continued under the group policy on the due date of each
payment. (Added 1983, No. 165 (Adj. Sess.), § 1; amended 1985, No. 184 (Adj.
Sess.), § 2; 2001, No. 121 (Adj. Sess.), § 4, eff. June 5, 2002; 2009, No. 61, §
15, eff. June 2, 2009.)