Financial Terms of GROUP Sample Clauses

Financial Terms of GROUP. The Monthly Premium per Subscriber rates for the Initial Term are set forth in Section III. BCBSRI shall send a Monthly Premium xxxx to GROUP. The payment is due on the first day of each month, unless another payment arrangement is agreed upon by both Parties. BCBSRI may change the Monthly Premium rates at any time during the term of the Agreement if: • benefits change at the request of GROUP. • there is a significant change in enrollment. • family composition changes. • a change occurs that is required by law, such as a benefit change or increase in premium tax. Any changes to the financial terms, as described in this section, shall be sent to GROUP in a writing signed by BCBSRI. Such writing shall constitute an amendment to the Agreement. The amendment shall be deemed accepted by GROUP upon payment of the applicable Monthly Premium for such Rating Period. Any payment not received by BCBSRI within thirty-one days (“grace period”) of the due date will be subject to a late payment charge, at the annual rate of twelve percent. The late payment charge will apply to each day after said grace period until payment is received by BCBSRI. GROUP shall also pay all cost incurred by BCBSRI. Incurred costs shall include unpaid premiums, attorneys’ fees, and court costs. A one year waiting period shall be imposed on any group cancelled by BCBSRI for non-payment. In the event GROUP does not agree with the amount of the Monthly Premium billing, GROUP shall pay, when due, the Monthly Premium xxxx which would have been payable absent the dispute. If the disputed amount is resolved in favor of the GROUP, BCBSRI shall pay the appropriate amount due to GROUP with interest. Interest will be calculated in the same manner as the late payment charges, described above.

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Financial Terms of GROUP. The Monthly Premium per Subscriber rates for the Initial Term/Rating Period are set forth in Section III. BCBSRI shall send a Monthly Premium xxxx to GROUP. The payment is due on the first day of each month; unless another payment arrangement is agreed upon by both Parties. BCBSRI may change the Monthly Premium rates at any time during the term of the Agreement if:  benefits change, at the request of GROUP.  there is a significant change in enrollment. A “significant change” being defined as a change of plus or minus ten percent from the average number of Subscribers enrolled on the first date of each Rating Period.  a change occurs that is required by law, such as a benefit change or increase in premium tax. Any changes to the financial terms, as described in this section, shall be sent to GROUP in a writing signed by BCBSRI. Such writing shall constitute an amendment to the Agreement. The amendment shall be deemed accepted by GROUP upon payment of the applicable Monthly Premium for such Rating Period. Any payment not received by BCBSRI within thirty-one days (“grace period”) of the due date will be subject to a late payment charge, at the annual rate of twelve percent. The late payment charge will apply to each day after said grace period until payment is received by BCBSRI. GROUP shall also pay all cost incurred by BCBSRI. Incurred costs shall include unpaid premiums, attorneys’ fees, and court costs. A one year waiting period shall be imposed on any group cancelled by BCBSRI for non-payment. In the event GROUP does not agree with the amount of the Monthly Premium billing, GROUP shall pay, when due, the Monthly Premium xxxx which would have been payable absent the dispute. If the disputed amount is resolved in favor of the GROUP, BCBSRI shall pay the appropriate amount due to GROUP with interest. Interest will be calculated in the same manner as the late payment charges, described above.

Financial Terms of GROUP. The Monthly Premium per Subscriber rates for the initial Rating Period is set forth in Section III. BCBSRI shall send a Monthly Premium bill to GROUP. The payment is due on the first day of each month; unless another payment arrangement is agreed upon by both Parties. BCBSRI may change the Monthly Premium rates at any time during the term of this Agreement if: • benefits change, at the request of GROUP. • there is a significant change in enrollment. A “significant change” being defined as a change of plus or minus ten (10) percent from the average number of Subscribers enrolled on the first date of each Rating Period. • a change occurs that is required by law, such as a benefit change or increase in premium tax. If GROUP purchases Contributory Vision and does not contribute at least 50% of the Monthly Premium, BCBSRI may change the Monthly Premium rate for Vision coverage upon written notice to the GROUP. Any changes to the financial terms, as described in this section, shall be sent to GROUP in a writing signed by BCBSRI. Such writing shall constitute an amendment to this Agreement. The amendment shall be deemed accepted by GROUP upon payment of the applicable Monthly Premium for such Rating Period. Any payment not received by BCBSRI within thirty-one (31) days (“grace period”) of the due date will be subject to a late payment charge, at the annual rate of twelve (12) percent. The late payment charge will apply to each day after said grace period until payment is received by BCBSRI. GROUP shall also pay all cost incurred by BCBSRI. Incurred costs shall include unpaid premiums, attorneys’ fees, and court costs In the event GROUP does not agree with the amount of the Monthly Premium billing, GROUP shall pay, when due, the Monthly Premium bill which would have been payable absent the dispute. If the disputed amount is resolved in favor of the GROUP, BCBSRI shall pay the appropriate amount due to GROUP with interest. Interest will be calculated in the same manner as the late payment charges, described above.

Related to Financial Terms of GROUP

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