POWER Account Administration Clause Samples
The POWER Account Administration clause defines the responsibilities and procedures for managing and overseeing the POWER account within an agreement. Typically, this clause outlines who is authorized to access, modify, or make decisions regarding the account, and may specify reporting requirements or security measures to protect account integrity. Its core practical function is to ensure clear governance and accountability over the administration of the POWER account, thereby reducing the risk of unauthorized actions or mismanagement.
POWER Account Administration. POWER Accounts will be funded in an amount equal to $2,500. HIP Plus members, as well as the State, will contribute to their POWER Account. Employers are also encouraged to contribute to member POWER Accounts. By contract, HIP Basic members will manage a POWER Account fully funded by the State. HIP Maternity members will have a POWER Account, however, this account will be in suspended status and no claims may be applied to it for the duration of the member’s HIP Maternity enrollment. In families with two or more HIP-eligible adults, each member will have their own, individual POWER Account. Family members may participate in different HIP benefit plans and may choose to enroll in different MCEs.
POWER Account Administration. POWER Accounts will be funded in an amount equal to $2,500. HIP Plus members, as well as the State, will contribute to their POWER Account. Employers are also encouraged to contribute to member POWER Accounts. By contract, HIP Basic members will manage a POWER Account fully funded by the State. In families with two or more eligible adults, each member will have their own, individual POWER Account. Family members may participate in different HIP benefit plans and may choose to enroll in different MCEs.