N.Y. Comp. Codes R. & Regs. tit. 4 § 73.10

Current through Register Vol. 46, No. 25, June 18, 2024

Section 73.10 - Withdrawal from the plan

(a) A participating employer which intends to withdraw from the plan shall give notice of such intention to the president and to its covered employees and retired employees at least 90 days in advance of the last date for which coverage will be provided.

(b) A participating employer which withdraws from the plan shall not be eligible to rejoin the plan for one year following such withdrawal except with the consent of the president. The granting or denial of such consent shall be based on the extent to which the participating employer carried out its duties and responsibilities as required under the plan and this Part during the period of prior participation, with due consideration being given to:

(1) timely payment of premiums due;

(2) assignment of personnel to administer the plan;

(3) conformance in its assignment of effective dates and termination dates to permitted program options;

(4) compliance with plan Medicare reimbursement requirements;

(5) adherence to established eligibility requirements;

(6) proper distribution of certificates describing plan benefits, restrictions and penalties; and

(7) prior withdrawal(s).

(c) As a condition of rejoining the plan, the president shall require an employer to pay a charge for recoupment of deficits incurred during the period of prior participation which would have been reflected in the premium which would have been paid had such employer participated during the period of withdrawal. Charges for recoupment of deficits which are due by a participating employer shall be payable at a time and in a manner to be determined by the president.

N.Y. Comp. Codes R. & Regs. Tit. 4 § 73.10