Changes in Payment Schedule

Changes in Payment Schedule. An MPACT Contract Purchaser may request a change in payment schedule any time during the MPACT Enrollment Period in which the Purchaser enters the MPACT Program and extending through the tenth day of the month in which the first payment is due for monthly Purchasers, or in which the onetime, lump sum payment is due for lump sum Purchasers. A request for a change in payment schedule must be submitted, in writing, to the State Treasurer and must be received by the State Treasurer within the time frame specified herein. A change in payment schedule at any other time may require the MPACT Contract Purchaser to cancel their existing MPACT Contract and to purchase a new Contract during a subsequent MPACT Enrollment Period. Purchasers electing a monthly payment plan may pay off the plan early.