§12533 Termination of Program

Summary

The Secretary must end the insurance program. No one in the Ready Reserve can be enrolled for coverage after November 18, 1997. Coverage for insured members stops on November 18, 1997, except for members who on that date were serving on covered service or had orders for covered service that make them eligible for benefits. For those people, coverage ends when their covered service period ends. No benefit payments may be made after November 18, 1997, except to people who on that date were serving, had orders to serve, or had already served and still had unpaid benefits. The Secretary must close the Fund within 60 days after the last payment, and any money left goes to the Treasury as miscellaneous receipts.