Insolvency Protection. Throughout the term of this Contract, the Contractor shall remain financially stable and maintain adequate protection against insolvency, as determined by EOHHS.
Insolvency Protection. (a) The Association of Bonded Travel Organisers Trust Limited (ABTOT) provides financial protection under The Package Travel and Linked Travel Arrangements Regulations 2018 for PT Ski Ltd (member number 5310), and in the event of their insolvency, protection is provided for: • Non-flight packages ABTOT cover provides for a refund in the event you have not yet travelled or repatriation if transportation was included in your package. Please note that bookings made outside the UK are only protected by ABTOT when purchased directly with PT Ski. In the unlikely event that you require assistance whilst abroad due to our financial failure, please call our 24/7 helpline on 01702 811397 and advise you are a customer of an ABTOT protected travel company. You can access The Package Travel and Linked Travel Arrangements Regulations 2018 here: xxxxx://xxx.xxxxxxxxxxx.xxx.xx/uksi/2018/634/contents/made
(b) If you book arrangements other than a holiday package from us, your monies will not be financially protected. Please ask us for further details.
Insolvency Protection. The CONTRACTOR shall comply with and is subject to all applicable State and federal statutes and regulations, including those regarding solvency and risk standards. In addition to requirements imposed by State or federal law, the CONTRACTOR shall be required to meet specific Medicaid financial requirements and to present to HCA or its agent any information and records deemed necessary to determine its financial condition. The response to requests for information and records shall be delivered to HCA at no cost to HCA, in reasonable time from the date of request or as specified herein. The CONTRACTOR must be licensed or certified by the State as a risk-bearing entity. The CONTRACTOR shall establish and maintain a restricted insolvency protection account with a federally guaranteed financial institution licensed to do business in the State of New Mexico. The CONTRACTOR shall deposit, in the form of cash or securities or investments consistent with applicable state insurance laws, an amount equal to ninety percent (90%) of the total Capitation Payments paid to the CONTRACTOR in the first month of the contract year as determined by HCA. This provision shall remain in effect as long as the CONTRACTOR continues to contract with HCA. The insolvency protection account must be restricted to the CONTRACTOR's Turquoise Care program. The CONTRACTOR must satisfy this requirement no later than sixty (60) Calendar Days after notification by HCA of the deposit amount required. Thereafter, the CONTRACTOR shall maintain this account such that the balance is equal to no less than ninety (90%) percent of the average monthly capitation paid to the CONTRACTOR in the most recent quarter as determined by HCA. The CONTRACTOR shall provide a statement of the account balance to HCA within fifteen (15) Calendar Days after the most recent quarter end. If the account balance falls below the required amounts as determined by HCA, the CONTRACTOR has thirty (30) Calendar Days, after notification from HCA to increase the account balance to an amount no less than the required amount specified by HCA direction in 4.19.2.1.3 of this Agreement. The CONTRACTOR is permitted to withdraw interest or amounts in excess of the required account balance as determined by HCA from this account so long as the account balance after the withdrawal is not less than required amount as specified by HCA. The CONTRACTOR shall notify HCA in writing prior to withdrawal of funds from this account. Withdrawals may b...
Insolvency Protection. The MCO must maintain protection against insolvency as required by the DEPARTMENT including demonstration of adequate initial capital and ongoing reserve contributions. The MCO must provide financial data to the DEPARTMENT in accordance with the DEPARTMENT's required formats and timing.
Insolvency Protection. Insolvency Protection for a Capitated Provider Service Network (PSN)
Insolvency Protection. The Health Plan shall establish a restricted Insolvency protection account with a federally guaranteed financial institution licensed to do business in Florida in accordance with section 1903(m)(1) of the Social Security Act (amended by section 4706 of the Balanced Budget Act of 1997), and section 409.912, F.S. The Health Plan shall deposit into that account five percent of the capitation payments made by the Agency each month until a maximum total of two percent of the annualized total current contract amount is reached. No interest may be withdrawn from this account until the maximum contract amount is reached. This provision shall remain in effect as long as the Health Plan continues to contract with the Agency. The restricted Insolvency protection account may be drawn upon with the authorized signatures of two persons designated by the Health Plan and two representatives of the Agency. The signature card shall be resubmitted when a change in authorized personnel occurs. If the authorized persons remain the same, the Health Plan shall submit an attestation to this effect annually. A sample form (Multiple Signature Verification Agreement) is available from the Agency upon request. All such agreements or other signature cards must be approved in advance by the Agency.
1. In the event that a determination is made by the Agency that the Health Plan is Insolvent, as defined in Section I Definitions, of this Contract, the Agency may draw upon the amount solely with the two authorized signatures of representatives of the Agency and funds may be disbursed to meet financial obligations incurred by the Health Plan under this Contract. A statement of account balance shall be provided by the Health Plan within fifteen (15) Calendar Days of request of the Agency.
2. If the Contract is terminated, expired, or not continued, the account balance shall be released by the Agency to the Health Plan upon receipt of proof of satisfaction of all outstanding obligations incurred under this Contract.
3. In the event the Contract is terminated or not renewed and the Health Plan is Insolvent, the Agency may draw upon the Insolvency protection account to pay any outstanding debts the Health Plan owes the Agency including, but not limited to, overpayments made to the Health Plan, and fines imposed under the Contract or section 641.52, F.S., for which a final order has been issued. In addition, if the Contract is terminated or not renewed and the Health Plan is unable to pay all of...
Insolvency Protection. (a) We provide financial security for our package holidays by way of a bond held by the Association of Bonded Travel Organisers Trust Limited (ABTOT), 000 Xxxxxxxxxxx, Xxxxxx, XX0X 0XX xxxxx://xxx.xxxxx.xxx/. ABTOT cover provides for a refund in the event you have not yet traveled or repatriation if you are abroad. Please note that bookings made outside the EU are only protected by ABTOT when purchased directly with us.
(b) If you book arrangements other than a holiday package from us, your monies will not be financially protected. Please ask us for further details.
Insolvency Protection. Unless the MCO is (or is controlled by) one or more federally qualified health care centers and meets the solvency standards established by the DEPARTMENT for those centers, the MCO shall meet the solvency standards established by the State of Connecticut for private health maintenance organizations, or be licensed or certified by the State as a risk bearing entity. The MCO must maintain protection against insolvency as required by the DEPARTMENT including demonstration of adequate initial capital and ongoing reserve contributions. The MCO must provide financial data to the DEPARTMENT in accordance with the DEPARTMENT'S required formats and timing.
Insolvency Protection. A. The contractor must establish and maintain a restricted insolvency protection account in a bank or savings and loan association located in the state of Florida with a balance of at least $100,000 into which monthly deposits equal to at least 5 percent of premiums received under the project are made until the balance equals 2 percent of the total contract amount. The account shall be established with such terms as to ensure that funds may only be withdrawn with the signature approval of designated department representatives. A sample form (Signature Verification Agreement) can be found in Exhibit A.
B. If the contractor's authorized representatives do not change from subsequent contract years, an attestation statement indicating such must be submitted to the department.
C. In the event that a determination is made by the department that the contractor is insolvent as defined in Section 13, the department may draw upon the account solely with the authorized signatures of representatives of the department and funds may be disbursed to meet financial obligations incurred by the contractor under this contract. The contractor shall provide a statement of account balance upon request by the department.
D. If the contract is terminated, expired, or not continued, the account balance shall be released by the department to the contractor upon receipt of proof of satisfaction of all outstanding obligations incurred under this contract.
E. In the event the contract is terminated or not renewed and the contractor is insolvent, the department may draw upon the insolvency protection account to pay any outstanding debts the contractor owes the Agency including, but not limited to, overpayments made to the contractor, and fines imposed under the contract or Section 641.52, F.S., for which a final order has been issued. In addition, if the contract is terminated or not renewed and the contractor is unable to pay all of its outstanding debts to health care providers, the department, Agency, and the contractor agree to the court appointment of an impartial receiver for the purpose of administering and distributing the funds contained in the insolvency protection account. A receiver must give outstanding debts owed to the Agency priority over other claims.
Insolvency Protection. For the FFS Health Plan transitioning from a FFS Health Plan to a capitated Health Plan, the Health Plan shall ensure it is capable of meeting all solvency, reserves and working capital requirements of Chapter 641 F.S. Although the Health Plan is not required to be licensed in accordance with Chapter 641 F.S., the Health Plan shall be required to comply with all solvency requirements of Medicaid HMOs, at such time as the Health Plan transitions from a FFS Health Plan to a capitated Health Plan in accordance with the requirements of the Conversion Application. See Exhibit 2, Item D.
