N.Y. Comp. Codes R. & Regs. tit. 4 § 73.8

Current through Register Vol. 46, No. 45, November 2, 2024

Section 73.8 - Payments to health insurance fund

(a) The total contributions required to insure covered employees and retired employees for any calendar month shall be due and payable to the Health Insurance Fund on the first day of the preceding calendar month.

(b) The chief fiscal officer of the participating employer shall, on the first day of each month, pay to the Health Insurance Fund the sum of:

(1) the contributions paid by covered employees and retired employees (except contributions deducted from retirement allowances other than as provided in paragraph [3] of this subdivision) required to insure them for the following calendar month;

(2) the contributions required to be paid by the participating employer for the coverage of all covered employees and retired employees of such participating employer for the following calendar month; and

(3) in the case of a participating employer electing to pay a higher rate of contribution for the coverage of its retired employees and their dependents, the contributions deducted from retirement allowances and paid to the chief fiscal officer of such participating employer pursuant to subdivision (b) of section 73.3 of this Part.

(c) Each such payment by a participating employer shall be accompanied by an accounting thereof to be set forth on an appropriate form prescribed by the president.

(d) No monies in the Health Insurance Fund, other than the sums received therefor from the participating employer, shall be committed, encumbered or advanced to pay for the coverage of the employees and retired employees of such participating employer. The sums due on the first day of any month must be paid to the Health Insurance Fund promptly; and if not so received, the participating employer shall be in default and coverage of the employees and retired employees of such participating employer shall terminate at the end of the month for which payments have been made. However, upon application of any employer who has so defaulted, the president may authorize the reinstatement of such employer as a participating employer after a lapse of a minimum of two months following the cessation of the coverage of its employees and retired employees; provided, however, that the president may, in his discretion and for good cause shown, reduce or waive such two-month waiting period.

(e) If an employee is insured under an option under which he and his covered dependents, if any, are entitled to benefits on a continuing basis until such time as the participating employer notifies the insurer of the termination of his coverage, the participating employer shall guarantee and be liable for the payment to the Health Insurance Fund of all charges on account of the coverage of such employee and his covered dependents, if any, for all payroll periods preceding and the period within which the insurer is notified by the participating employer of the termination of such coverage.

N.Y. Comp. Codes R. & Regs. Tit. 4 § 73.8