Financial Benchmarks. The success of the Rhode Island Medicaid Managed Care program is contingent on the financial stability of participating Health/Dental plans. As part of its oversight activities, the State has established financial viability criteria, or benchmarks, to be used in measuring and tracking the fiscal status of Health/Dental plans. The Contractor must provide documentation on a regular basis as outlined in this contract that the Contractor is financially solvent, has the capital, and has the financial resources and management capability to operate under this risk-based contract. Contractor shall demonstrate to EOHHS that it is able to meet the solvency requirements set forth through the Rhode Island Office of the Health Insurance Commissioner (OHIC). Contractor agrees to at least annually provide EOHHS with the information necessary for calculating benchmark levels for each of the above financial benchmarks for its RIte Smiles line of business consistent with Section 2.16.C of this Agreement. Contractor also agrees to promptly and fully comply with any and all corrective actions ordered by the State to address any identified deficiencies with respect to financial benchmarks.
Appears in 4 contracts
