Termination

Participating Employer Termination

A Participating Employer may cancel its participation in MIT, or any benefit offered through MIT, at any time. Requests for termination must be submitted in writing to MIT at MITinfo@scmedical.org or 132 Westpark Blvd, Columbia, SC 29210, not your Fulcrum Risk Solutions broker.

 

Termination Effective Date:

 

The effective date of any voluntary termination of a Participating Employer’s participation in MIT, or any benefit offered through MIT, will be the last day of the calendar month in which the Participating Employer’s written notice is received by MIT, or the last day of a later calendar month as specified by the Participating Employer in its written notice of cancellation. If a Participating Employer ceases to participate in MIT or any benefit offered through MIT, coverage will automatically cease (a) for employees and physicians of that Participating Employer and their spouse and Dependents, (b) for retirees who retired from that Participating Employer on or after January 1, 2020, and (c) for all COBRA Qualified Beneficiaries who became entitled to continuing group health (medical and/or dental) coverage through that Participating Employer. MIT reserves the right to routinely audit employer groups to ensure they are compliant with MIT’s participation guidelines, including the timely payment of the required Employer Contributions to MIT. Failure of a Participating Employer to comply may result in termination of coverage.

 

MIT reserves the right to refuse to pay and/or reverse payment of any and all claims incurred in a period for which the required Employer Contributions are not timely received by MIT and terminate a Participating Employer’s’ participation as of the last day of the calendar month through which the required Employer Contributions were paid.

 

COBRA Note:

 

The effective date of any voluntary termination of a Participating Employer’s participation in MIT, or any benefit offered through MIT, will be the last day of the calendar month in which the Participating Employer’s written notice is received by MIT, or the last day of a later calendar month as specified by the Participating Employer in its written notice of cancellation. If a Participating Employer ceases to participate in MIT or any benefit offered through MIT, coverage will automatically cease (a) for employees and physicians of that Participating Employer and their spouse and Dependents, (b) for retirees who retired from that Participating Employer on or after January 1, 2020, and (c) for all COBRA Qualified Beneficiaries who became entitled to continuing group health (medical and/or dental) coverage through that Participating Employer. MIT reserves the right to routinely audit employer groups to ensure they are compliant with MIT’s participation guidelines, including the timely payment of the required Employer Contributions to MIT. Failure of a Participating Employer to comply may result in termination of coverage.

 

MIT reserves the right to refuse to pay and/or reverse payment of any and all claims incurred in a period for which the required Employer Contributions are not timely received by MIT and terminate a Participating Employer’s’ participation as of the last day of the calendar month through which the required Employer Contributions were paid.

 

Term Date Note:

 

All Participating Employers who terminate participation with MIT, or any benefit offered through MIT, must pay any/all outstanding balances due within 90 days following the termination date. If full payment is not received within 90 days, MIT reserves the right to reverse any/all claims incurred in the period for which the Employer Contributions were not received.