In this section the following words have the meanings indicated. “Individual Exchange” has the meaning stated in § 31–101 of this article. “Qualified health plan” has the meaning stated in § 31–101 of this article. “Qualified individual” has the meaning stated in § 31–101 of this article. This section applies to a qualified health plan that is issued on or after January 1, 2014, by a carrier through the Individual Exchange. A qualified health plan subject to this section shall include a grace period provision applicable to a qualified individual who: is receiving advance payments of federal premium tax credits; and fails to pay premiums timely. The grace period provision shall: provide a grace period of 3 consecutive months after the initial premium payment to begin coverage has been paid; apply to qualified health plans renewed in accordance with § 15–1309 of this subtitle without the qualified individual having to pay the first month’s premium following renewal; and be in addition to any other grace period provision required by any other applicable State law. During the grace period, a carrier that issues a qualified health plan subject to this section: shall pay all appropriate claims for services rendered to the qualified individual during the first month of the grace period; may pend claims for services rendered to the qualified individual in the second and third months of the grace period; shall notify the federal Department of Health and Human Services that the qualified individual is in the grace period; and shall notify providers of the possibility that claims may be denied when a qualified individual is in the second and third months of the grace period.