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Terminations
The contract holder will be considered terminated without further notice if the premium due is not received within the grace period outlined in the terms of the contract. The first time a check is paid for premium and returned due to non-sufficient funds, USB requires a certified check or money order be received within three business days after notification in order to prevent termination for non-payment of premium. After the first time, the contract will terminate for non-payment of premium.
Failure by the contract holder to meet contract requirements may also result in termination. Some of these requirements include enrollment and plan participation requirements, third party administrator (TPA) changes, etc. Termination will occur on the date the contract holder terminates the administration. At the sole discretion of USB, the contract may continue under the new TPA. USB needs written notification about the change. The new TPA must be approved by USB. |