Monthly Income Payments Under Medicaid Sample Clauses

Monthly Income Payments Under Medicaid. The Resident/Resident Representative/Sponsor/Financial Agent understands that if the Resident receives monthly income (i.e., retirement benefits, Social Security benefits, pension, required minimum distributions from qualified accounts, interest income, etc.), and also qualifies for Medicaid, the Department of Social Services will require most of such income (the “Net Available Monthly Income” or “Client Share/NAMI”) to be paid to the Facility as the Resident’s contribution towards the overall cost of care. Under the formula for the client share/NAMI, the Resident will only be allowed to retain a personal needs allowance ($50.00 per month) for deposit in the Resident’s personal account and that the Resident’s NAMI, budgeted by the Department of Social Services, is required to be paid to the Facility. The Resident/Resident Representative/Sponsor/Financial Agent further guarantees that: a. such income will be delivered to the Facility on or before the 10th of each month; or that it will be sent directly to the Facility from the income payor pursuant to an Agreement in the Addendum; b. During the period when a Resident’s Medicaid application is pending approval by the Department of Social Services, all income of the resident shall be paid over to the Facility minus $50.00 per month, and said payment shall be applied to the cost of care of the Resident; c. That if any of the client share/NAMI amount is disputed, the disputed portion of the client share/NAMI will be paid directly to a responsible escrow agent, or into the Resident trust account, or the Court on or before the tenth (10th) of each month and that the portion of the client share/NAMI which is not in dispute will be paid to the Facility by such date. The Parties agree that the funds held in escrow will be released according to the determination made by the reviewing body or by the Court, or by mutual consent of the Resident/Resident Representative/ Sponsor/Financial Agent and Facility. d. Failure to remit these funds may result in involuntary discharge for non-payment. Nonpayment for a Medicaid covered Resident occurs if the budgeted monthly NAMI is not paid and the amount is not in dispute, or funds are actually available or would be available and the Resident or the Undersigned Agent with access or control over the NAMI fail or refuses to pay, arrange for payment of, the NAMI to the facility. All such failure or refusal to pay or arrange for payment of the NAMI to the facility are breaches of the ...
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Monthly Income Payments Under Medicaid. The Resident understands that, upon Medicaid eligibility, DSS will require most monthly income (the “Net Available Monthly Income” or “NAMI”) to be paid to the Facility as part of the Medicaid rate. If DSS sets a NAMI, the Resident agrees (1) to pay the NAMI by the [10th] of each month, or to require the monthly income to be sent directly to the Facility (Addendum II); and (2) if the Resident disputes the NAMI amount, to place the disputed portion in an escrow account, and pay the undisputed portion to the Facility by the [10th] of each month. The Parties agree that funds held in escrow will be released according to the determination of the entity adjudicating the NAMI dispute.
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Monthly Income Payments Under Medicaid. The Resident understands that if he/she receives monthly income and also qualifies for Medicaid, the County Department of Social Services will require most of such income (referred to as “Net Available Monthly Income”) to be paid to the Facility. In that event, the Resident guarantees that such income will be delivered to the Facility on or before the 7th of each month or that it will be sent directly to the Facility from the income payor. If the Resident’s liquid assets are exhausted or unavailable prior to a determination of Medicaid coverage, the Resident agrees to pay his/her monthly income to the Facility as partial payment for the Private Pay Rate.
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Related to Monthly Income Payments Under Medicaid

  • Salary Overpayment Recovery A. When the Employer has determined that an employee has been overpaid wages, the Employer will provide written notice to the employee that will include the following items: 1. The amount of the overpayment; 2. The basis for the claim; and 3. The rights of the employee under the terms of this Agreement.

  • Income Payments (i) If Income is paid in respect of any Purchased Mortgage Loans during the term of a Transaction, such Income shall be the property of Buyer. Seller shall cause the Servicer to remit to the Collection Account all Income in accordance with the related Servicer Side Letter. Upon the occurrence and during the continuance of an Event of Default, within two (2) Business Days of receipt thereof, Seller shall, and shall cause the applicable Servicer to deposit such Income into the account set forth in Section 10(a) hereof. (ii) Notwithstanding any provision to the contrary in this Section 5, within two (2) Business Days after notification of receipt by Seller or Servicer of any prepayment of principal in full, with respect to a Purchased Mortgage Loan, Seller shall or shall cause Servicer to remit such amount directly to the Collection Account in accordance with the related Servicer Side Letter. Buyer shall immediately apply any such amount received to reduce the amount of the Repurchase Price due upon termination of the related Transaction and to the extent no Default or Event of Default has occurred and is continuing, shall promptly remit any excess to Seller; provided, that Buyer shall have no obligation to apply such payments in the event that it is unable to identify the Purchased Mortgage Loans to which such payments correspond. (iii) Provided that no Event of Default has occurred and is continuing, on each Price Differential Payment Date, Buyer shall remit all Income in the Collection Account with respect to the Purchased Mortgage Loans as follows: (A) first, to Buyer, in payment of any accrued and unpaid Price Differential to the extent not paid by Seller to Buyer pursuant to Section 5(b) hereof; (B) second, to Buyer, in the order of priority as determined in accordance with Section 4, in reduction of the Repurchase Price of any liquidation, pay-off or repurchase of any Purchased Mortgage Loan up to the amount advanced by Buyer; (C) third, without limiting the rights of Buyer under Section 7 hereof, to Buyer, in the amount of any unpaid Margin Deficit in excess of the Minimum Margin Threshold; (D) fourth, to the payment of all other Obligations then due and owing to Buyer; and (E) fifth, to, or at the direction of Seller, any remaining amounts. (iv) Notwithstanding the preceding provisions, if an Event of Default has occurred and is continuing, all funds received by Buyer pursuant to this Section 5 shall be applied to reduce Obligations as determined by Buyer in its sole discretion.

  • Salary Payments Salaries shall be paid fortnightly by direct credit to the employee’s nominated bank account except that individual employees may on religious or ethical grounds apply in writing to the Secretary for Education to be paid by cheque.

  • Supplemental Payments Applicant shall make annual Supplemental Payments in an amount equal to, but not to exceed, the limit of the annual Supplemental Payment as set out Section 6.2 below, starting with the first complete or partial year of the Qualifying Time Period and accruing on January 1 of each year thereafter, and continuing through the third year following the end of the Tax Limitation Period.

  • When Must Distributions from a ▇▇▇▇ ▇▇▇ Begin Unlike Traditional IRAs, there is no requirement that you begin distribution of your account during your lifetime at any particular age.