Section 150C. Any person having employees in his service who withholds or deducts wages from employees for the purpose of purchasing or contributing toward the purchase of a blanket or general policy of insurance pursuant to section one hundred and ten of chapter one hundred and seventy-five and who fails to purchase such coverage or keep such coverage in force shall be punished by one or any combination of the following: by imprisonment in a jail or house of correction for not more than six months, by a fine of not more than one thousand dollars, by being required to reimburse employees for any wages withheld or deducted that were not put toward the use for which they were withheld or deducted, or by being required to pay for all costs incurred by an employee that would have been paid for or reimbursed by insurance if such insurance coverage had been in force.