408.68 When premiums are considered paid.§ 408.68 When premiums are considered paid.
(a) Payment by check. The premium is considered paid if the check is paid by the bank the first or second time it is presented for payment.
(b) Payment within the grace period. (1) A premium is considered paid within the grace period if it is delivered personally, or mailed on or before the last day of that period.
(2) A premium payment is considered to have been mailed 7 days before it is received by CMS.