Payment of premium for continued coverage.
1. Any person who elects to continue coverage pursuant to NRS 689B.245 shall pay the premium for that coverage in an amount not to exceed 125 percent of the premium charged to the employer by the insurer on the date on which that person became eligible for continued coverage.
2. If there is a change in the rate charged or benefits provided under the policy during the time of continued coverage, the premium may not exceed 125 percent of the new rate charged to the employer.
3. The premiums must be paid to the insurer on a quarterly basis.
4. If the payment of a premium is not received by the insurer within 30 days after the date on which it is due, continued coverage must be terminated.
Last modified: February 27, 2006