Health Insurers’ Premium Fee under the ACA. The Health Insurers’ premium Fee (HIF) under the ACA is due in September each year based on the preceding calendar year premiums each year unless otherwise modified. If the Contractor is or will be subject to the health insurer’s premium fee for the Capitation Payments being made under this or a previously existing Managed Care Contract with the Commonwealth, the Commonwealth shall compensate the Contractor for that fee and for any federal taxes resulting from such compensation. To facilitate this payment, the Contractor shall provide the Department with the Insurer’s Premium Fee assessment received from the Federal Government and the pro rata portion attributed to the Contractor’s Capitation Payments under its Contract(s) for the preceding calendar year if available. In addition, the Contractor shall provide a certified statement from its Chief Financial Officer as to the effective Federal Tax Rate paid for the prior five (5) tax periods. These shall be submitted to the Department no later than September 1 of each year that the Insurer’s premium fee is imposed. This payment method is contingent upon receipt of federal financial participation for the payment and CMS approval.
Appears in 5 contracts
Samples: Medicaid Managed Care Contract, Medicaid Managed Care Contract, Medicaid Managed Care Contract
