Preferred United Plans bills the employers on the 15th of the month for the premium due for the upcoming month. If the premium is not received by the 15th of the following month, a notice will be sent to the employer informing them that they have until the last day of the month for the premium to be received by Preferred United Plans.
If the premium is not received by the end of the month, the health plan prescription and medical card will be suspended. Only when premium is received will the cards be reactivated. If the employer still has not paid by the 10th, the group will be terminated, and the proper collection procedures will be invoked.
If (2) late payments are applied at any time during the twelve (12) month plan period, Preferred United Plans will terminate the group.
Preferred United Plans requires a thirty-one (31) day written notice prior to the requested termination date. (NO BACKDATING WILL BE ALLOWED.)
Preferred United Plans will use all appropriate legal alternatives to properly collect premiums due to the plan.
Only one (1) re-instatement will be allowed, and the cost will be paid in advance by the employer. A cost of $15 per employee will be required, with a minimum charge of $100 per group.