Financial Requirements
Preferred
United Plans of Michigan bills the employers on the 15th
of the month for the premium due for the upcoming month.
If all 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 of Michigan. A monthly billing fee of $20 will
be charged.
If all the premium
is not received by the end of the month, all status of
claims payment will stop, Rx cards will be turned off
and termination proceedings will be enforced. If warranted,
outside collection agencies will be utilized.
Termination
Preferred United Plans of Michigan requires a thirty
(30) day written termination notice prior to the requested
date, even at renewal. No backdating will be allowed.
Preferred United Plans of Michigan will
use all appropriate legal alternatives to properly collect
premiums due to the plan.
Reinstatement
Only one (1) re-instatement will be allowed, and the
cost will be paid in advance by the employer. The cost
is $25.00 per employee with a minimum of $100.00.
