NAC287.400. Procedure for applying to reenter Program.

A group that was approved to leave the Program pursuant to NRS 287.0479 may apply to reenter the Program by submitting to the Board a completed application on a form prescribed by the Board at least 90 days before the commencement of the plan year in which reentry is desired. The application must include, without limitation:

     1. A nonrefundable application fee of $250.00, plus $2.25 per participant in the opt-out plan.

     2. A nonrefundable fee to be deposited in the Fund for the Public Employees’ Benefits Program created pursuant to NRS 287.0435 for the purpose of funding the reserve maintained by the Program to stabilize rates. The Executive Officer or his or her designee shall calculate the amount of the nonrefundable fee by:

     (a) Dividing the funded reserve maintained by the Program to stabilize rates on the date on which the application was submitted by the total number of participants in the Program on that date; and

     (b) Multiplying the number determined pursuant to paragraph (a) by the total number of participants in the opt-out plan who will reenter the Program.

Ê The fees or the first installment payment of the fees, if installment payments are authorized by the Program, must be paid by the effective date of reentry.

     3. The name, gender, age, residential zip code and current selection for coverage of:

     (a) Each eligible participant in the opt-out plan, regardless of whether the eligible participant is enrolled in the opt-out plan; and

     (b) Each participant who is currently enrolled in the opt-out plan and their respective number of enrolled dependents.

     4. A statement that all terminal fees and costs associated with the opt-out plan will be paid by the participants in the opt-out plan who will reenter the Program.

     (Added to NAC by Bd. of Pub. Employees’ Benefits Prog. by R002-12, eff. 6-29-2012)