Common use of Mid-Month Termination Clause in Contracts

Mid-Month Termination. For a termination of this Agreement that occurs during the middle of any month, the premium for that month shall be apportioned on a pro rata basis. Contractor shall be entitled to premiums from Enrollees for the period of time prior to the date of termination and Enrollees shall be entitled to a refund of the balance of the month. Contractor shall follow the methodology specified in 10 CCR § 6500(i) for the refund of any excess premiums paid. The premium for coverage lasting less than one month shall equal the product of: (1) The premium for one month of coverage divided by the number of days in the month; and (2) The number of days for which coverage is being provided in the month.