(1) Every service plan contract of a health service plan corporation which provides that the continued coverage of a beneficiary is contingent upon the continued employment of the subscriber with a particular employer shall further provide for the continuance of such contract in accordance with the requirements set forth in Section 367.2 of the Illinois Insurance Code. (2) The requirements of this Section shall apply to all such contracts delivered, issued for delivery, renewed or amended on or after December 1, 1985 (the effective date of Public Act 84-556).
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