Common use of Financial Responsibilities for Covered Services Clause in Contracts

Financial Responsibilities for Covered Services. The Contract Holder is liable for payment of the following Cost Shares for Covered Services provided to the Contract Holder and his/her Dependents. Payment of an amount billed must be received within 30 days of the billing date. Charges will be for the lesser of the Cost Shares for the Covered Service or the actual charge for that service. Cost Shares will not exceed the actual charge for that service.

Financial Responsibilities for Covered Services. ‌ The Contract Holder is liable for payment of the following Cost Shares for Covered Services provided to the Contract Holder and his/her Dependents. Payment of an amount billed must be received within 30 days of the billing date. Charges will be for the lesser of the Cost Shares for the Covered Service or the actual charge for that service. Cost Shares will not exceed the actual charge for that service.