Agenda - 06-28-1989 - Laserfiche WebLink

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54 The Plan shall calculate the premium based upon its records of the number and Coverage type of Subscribers as of the fifteenth (15th) day of the month preceding the date that the next month's premium is due and payable. The Plan shall provide the Group with written notice of the premium payable to the Plan at least one (1) week prior to the date the premium is due and payable to the Plan. The Group agrees to notify the Plan within five business days of the deletion or addition of any Subscribers Covered 'or to be Covered by the Plan. The Plan and the Group shall cooperate to complete any retroactive adjustments to the premium necessary as a result of the addition or termination of Subscribers Covered by the Plan. The Plan shall not be required to make a retroactive adjustment if the Group fails to notify the Plan of the termination of a Subscriber's Coverage by submission of a Change of Member Status Form. If a subscriber is terminated on any day of the month, coverage will be effective until the last day of the month indicated on the Change of Member Status Form. The premium already paid for that month will not be adjusted. If a Subscriber is added on any day of the month, Coverage will begin on the day indicated on the Application Form. The premium charged will be for the entire month in which the Member becomes effective. If the Group does not notify the Plan of the termination of a Subscriber's Coverage, with a Change of • Member Status Form, the Group shall not be entitled to any retroactive adjustment of premium until notification is received by the Plan. 2. Grace Period A Grace Period of ten (10) days will be granted for the payment of any premium during the time this Contract shall continue in force. If the premium is not paid within that ten (10) day period, the Plan 49