Providing Funds for Benefits. Responsibility. The Plan is Self-Funded. Customer is solely responsible for providing funds for payment for all Plan benefits payable to Participants, Network Providers, or non-Network Providers. UMR has no liability or responsibility to provide these funds. Control of Plan Assets. In the event that the Plan is found to have Plan assets, the Customer shall have absolute authority with respect to such Plan assets, and UMR shall neither have nor be deemed to exercise any discretion, control or authority with respect to the disposition of Plan assets. Bank Account. Customer shall establish, maintain, and appropriately fund Bank Account in the name of the Customer. Customer shall be responsible for all payments issued against the account. UMR shall be given the necessary nonexclusive authority to utilize any funds in said account for payment of Plan benefits. UMR shall provide Customer with access to the daily online check register, and will also provide a monthly report for reconciliation purposes. It is understood that Customer is solely responsible for handling issues related to uncashed checks, including any record keeping, reporting, or payment responsibilities set forth under any state’s unclaimed property law, to the extent such laws apply. Payment. Customer is solely responsible for paying for Plan benefits. UMR will have no obligation to arrange for payment of Plan benefits if Customer has not made the requisite funds available to UMR in accordance with this Agreement. Underfunding. If Customer does not fund its Bank Account with sufficient funds with which to pay claims, Customer must immediately correct the deficiency. UMR may suspend any of its services under this Agreement for the period of time Customer does not have sufficient funds in its Bank Account. If Customer does not correct the funding deficiency within fifteen (15) business days of UMR’s notice to Customer, UMR may terminate this Agreement as otherwise set forth in this Agreement, such termination to be effective the first day such funding deficiency began.
Providing Funds for Benefits. The Plan is Self-Funded. You are solely responsible for providing funds for payment for all Plan benefits payable to Network Providers or non-Network Providers. Bank Account. You will open and maintain a DDA at the Bank for purposes of providing us a means to access your funds for payment of Plan benefits. The DDA will be a part of the network of accounts that have been established at the Bank for our self-funded customers. However, the DDA will belong to you and the funds in it are yours.
Providing Funds for Benefits. Section 7. 1 The Plan is Self-Funded. Customer is solely responsible for providing funds for payment of all Plan benefits payable to Network Providers or non-Network Providers as well as any state assessments, surcharges or other Plan benefit related expenses.
Providing Funds for Benefits. Customer is solely responsible for providing funds for payment for all Plan benefits payable to Participants. Optum is not responsible for providing funds for Plan benefits even if Optum or an affiliate of Optum provides stop loss insurance to Customer. Customer shall comply with any regulatory obligations, including prompt pay requirements, as applicable.
Providing Funds for Benefits. We will maintain a bank account for the payment of HRA Plan benefits. You acknowledge that the bank account may contain money from one or more other sponsors of self-insured health plans. Advance Deposit. You will deposit an amount with BCBSKC to establish a reserve to facilitate prompt payment of HRA benefits should this Agreement terminate due to Your failure to fund HRA benefits. The amount of the deposit shall be equal to the amount required on HRA Benefit Request Form based on the number of Your eligible employees. This deposit may be increase at any time. You authorize BCBSKC to pay HRA benefits from a bank account maintained by BCBSKC. BCBSKC shall account for all receipts and disbursements to and from Your reserve. Your funds shall be used exclusively for payment of HRA benefits. BCBSKC has the right to retain the deposit following the termination of
Providing Funds for Benefits. Optum is solely responsible for providing funds for all EAP benefits payable to Network Providers.
