689C.344 - Amount of premium for continuation of coverage; change in rates; payment to insurer; termination. - Nevada Statutes

689C.344  Amount of premium for continuation of coverage; change in rates; payment to insurer; termination.

      1.  Any person who elects to continue coverage pursuant to NRS 689C.340 shall pay a premium for that coverage in an amount not to exceed 110 percent of the premium charged to the employer by the insurer for coverage of that person on the date on which that person became eligible for continued coverage.

      2.  If there is a change in the rate charged or benefits provided under the policy during the time of continued coverage, the premium may not exceed 110 percent of the new rate charged to the employer.

      3.  The premiums must be paid to the insurer on a monthly basis.

      4.  If the payment of a premium is not received by the insurer within 30 days after the date on which it is due, continued coverage must be terminated.

      (Added to NRS by 1997, 2928; A 2009, 2452)