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e-CFR data is current as of January 25, 2021

Title 48Chapter 1Subchapter EPart 28Subpart 28.3 → §28.307-1


Title 48: Federal Acquisition Regulations System
PART 28—BONDS AND INSURANCE
Subpart 28.3—Insurance


28.307-1   Group insurance plans.

(a) Prior approval requirement. Under cost-reimbursement contracts, before buying insurance under a group insurance plan, the contractor must submit the plan for approval, in accordance with agency regulations. Any change in benefits provided under an approved plan that can reasonably be expected to increase significantly the cost to the Government requires similar approval.

(b) Premium refunds or credits. The plan shall provide for the Government to share in any premium refunds or credits paid or otherwise allowed to the contractor. In determining the extent of the Government's share in any premium refunds or credits, any special reserves and other refunds to which the contractor may be entitled in the future shall be taken into account.

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