Payment of premiums - required term in contract - rules - definition

(1) (a) Every contract for a health benefit plan between a carrier and a policyholder shall require the policyholder to pay premiums for each individual covered under the policyholder's policy:

(I) Through the date that the policyholder notifies the carrier that the individual covered under the policy is no longer eligible or covered;

(II) Through the date that the policyholder notifies the carrier that the policyholder no longer intends to maintain coverage for the group through the carrier; or

(III) Through the date that the individual covered under the policy is no longer eligible or covered if the policyholder notifies the carrier within ten business days after the date that the individual is no longer eligible or covered because the individual left employment without notice to the employer or the individual is an employee whose employment was terminated for gross misconduct.