Employer Overpayment. If, within the Claim Settlement Period, Employer Payments exceed the Claim Settlement Total, Claim Administrator may, at its option, pay such difference to Employer, apply the difference against amounts then owed Claim Administrator by Employer or authorize a reduction equal to such difference from the next Claim Settlement Total due Claim Administrator from Employer.
Employer Overpayment. If, within the Claim settlement period, the sum of the Projected Claim Funding payments made by Employer and the Reserves (including any adjustments in Reserves required by Section 6.2 where an increase of the Reserves could result in a reduction of the Claim settlement) exceeds the Claim Payments described in sections 6.1 (a.) and (b.) above, not including Claim Payments covered under the Individual (Specific) Stop Loss Insurance, a “Surplus” exists. Claim Administrator will retain a percentage of the Surplus as a deferred Administrative Fee. Employer acknowledges that the percentage of any Surplus that Claim Administrator will retain in relation to Employer and its group health plan has been disclosed in Claim Administrator’s proposal to Employer and such disclosure of the percentage of the Surplus is incorporated into this Agreement. For the remainder of any Surplus, Claim Administrator may, at its option, pay such difference to Employer, apply the difference against amounts then owed Claim Administrator by Employer or authorize a reduction equal to such difference from the next Claim Settlement Total due Claim Administrator from Employer.
