Vermont Statutes Title 8 Sec. 4089h
Terms Used In Vermont Statutes Title 8 Sec. 4089h
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 4089h. Cancellation or nonrenewal of health insurance coverage
(a) Except as otherwise provided for comprehensive major medical insurance coverage in section 4077 of this chapter, a health insurer shall notify a policyholder of any premium payment due on a policy at least 21 days before the due date. If an insurer does not receive payment by the due date, an insurer shall send a termination notice to the policyholder notifying the policyholder that the insurer will terminate the policy effective on the due date if payment is not received within 14 days from the date of mailing of the termination notice. If an insurer does not receive payment within 14 days from the date of mailing of the termination notice, an insurer may cancel coverage effective on the due date.
(b) As used in this section, “health insurer” means a health insurance company, a hospital or medical service corporation, or a health maintenance organization that issues or renews any individual policy, service contract, or benefit plan in this State. (Added 1997, No. 112 (Adj. Sess.), § 1; amended 2021, No. 25, § 20, eff. May 12, 2021.)