1. If a member of the board of trustees of a school district who has served at least one full term of office does not seek reelection or is defeated for reelection and, upon the expiration of the board members term of office, was covered or had the board members dependents covered by any group insurance, plan of benefits or medical and hospital service established pursuant to NRS 287.010 , 287.015 , 287.020 or paragraph (b), (c) or (d) of subsection 1 of NRS 287.025 , the board member has the option upon the expiration of the board members term of office to cancel or continue any such coverage to the extent that coverage is not provided to the board member or a dependent by the Health Insurance for the Aged Act, 42 U.S.C. 1395 et seq. A board member who continues coverage pursuant to this section shall assume all costs for the continued coverage. A dependent of such a board member has the option, which may be exercised to the same extent and in the same manner as the board member, to cancel or continue coverage in effect on the date the board member dies. 2. Notice of the selection of the option must be given in writing to the board of trustees of the school district within 30 days after the expiration of the board members term of office or the date of the board members death, as the case may be. If no notice is given by that date, the board member and any dependents shall be deemed to have selected the option to cancel the coverage.
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