Common use of Monthly Premium Payments Clause in Contracts

Monthly Premium Payments. For the initial term of this Group Agreement, the Group shall submit to KFHPWA for each Member the monthly premiums set forth in the current Premium Schedule and a verification of enrollment. Payment must be received on or before the due date and is subject to a grace period of 10 days. Premiums are subject to change by KFHPWA upon 30 days written notice. Premium rates will be revised as a part of the annual renewal process. KFHPWA reserves the right to re-rate this benefit package if the demographic characteristics change by more than 15%. Rate Stabilization Reserve – Refundable KFHPWA will establish a Rate Stabilization Reserve (RSR) for the Group that is based upon the financial performance of this Group Agreement and all other Group Agreements in effect between KFHPWA and the Group.

Monthly Premium Payments. For the initial term of this Group Agreement, the Group shall submit to KFHPWA KFHPWAO for each Member the monthly premiums set forth in the current Premium Schedule and a verification of enrollment. Payment must be received on or before the due date and is subject to a grace period of 10 days. Premiums are subject to change by KFHPWA KFHPWAO upon 30 days written notice. Premium rates will be revised as a part of the annual renewal process. KFHPWA KFHPWAO reserves the right to re-rate this benefit package if the demographic characteristics change by more than 15%. Rate Stabilization Reserve – Refundable KFHPWA KFHPWAO will establish a Rate Stabilization Reserve (RSR) for the Group that is based upon the financial performance of this Group Agreement and all other Group Agreements in effect between KFHPWA KFHPWAO and the Group.