Common use of Loss of Eligibility Clause in Contracts

Loss of Eligibility. It is a Contractholder’s responsibility to notify us, or the Marketplace if applicable, in writing within 30 days after the date you or your Covered Dependent(s) no longer meet the eligibility requirements described in this Contract. If we receive notice from you within the required 30-day period, we will return any excess Premium you have already paid. If we receive notice from you after the required 30-day period, coverage will be terminated as of a current date and no Premiums will be refunded. i. Upon the loss of a Contractholder’s eligibility, coverage for the Contractholder and the Contractholder’s Covered Dependents will end on the last day of the month for which the monthly Premium was received, and while the Contractholder was eligible for coverage. ii. Upon the loss of a Covered Dependent’s eligibility, coverage for the dependent will end on the last day of the month for which the monthly Premium was received, and while the dependent was eligible for coverage.