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Premium Payment

  1. The insured unit should pay the premiums of that month before the end of the following month.  In case an insured unit has not paid the premiums due before the due date, they may be paid within a fifteen-day grace period.
  2. In case the premiums remain unpaid to the insurer within the grace period, an additional overdue penalty at the rate of 0.1% shall be paid for each day beginning from the expiration of the grace period to one day before the premiums are paid in full, provided that the overdue penalty shall not be more than 20% the amount of the premiums.
  3. In case the insured unit has not paid the premiums or penalties owed after the due date, the insurer shall take legal action for the premiums and penalties payable.  The insurer shall suspend benefits payment before the premiums and penalties are paid in full.
  4. An insured unit or insured person whose benefits payment have been suspended by the Bureau of Labor Insurance due to the premiums or penalties owed in accordance with the regulation, premiums that incurred during the suspension period of benefits payment shall still be calculated.  Collection papers shall be filed by the insured for various payments collectible after the premiums due are paid in full.
Last Update:2021-11-29