Common use of SHARED SAVINGS PROGRAM Clause in Contracts

SHARED SAVINGS PROGRAM. As of the Effective Date the Medical and Hospital Service Contract is amended to include the following:  Shared Savings Incentive Program. This Contract is eligible for the Shared Savings Incentive Program per Section 641.31076, F.S. This voluntary program allows Members to participate in the savings generated from Shoppable Health Care Services located at providers on the AvMed’s shared savings list. o AvMed’s shared savings list is available at xxx.xxxxx.xxx/xxxxxxxxxxxx. This list includes all available Shoppable Health Care Services and their Shared Savings Incentive amount. Be aware, this list may change. Please check frequently to ensure you have accurate information. o When you qualify for a reward, your Shared Saving Incentive will be sent to you by check approximately 30 days after we confirm that you received care at an incentive eligible location. o AvMed must notify you, and the Office of Insurance Regulation, at least 30 days before termination of this program  Shared Savings Incentive means a voluntary and optional financial incentive that a health insurer may provide to an insured for choosing certain Shoppable Health Care Services under a Shared Savings Incentive Program.

SHARED SAVINGS PROGRAM. As of the Effective Date the Medical and Hospital Service Contract is amended to include the following:  • Shared Savings Incentive Program. This Contract is eligible for the Shared Savings Incentive Program per Section 641.31076, F.S. This voluntary program allows Members to participate in the savings generated from Shoppable Health Care Services located at providers on the AvMed’s shared savings list. o AvMed’s shared savings list is available at xxx.xxxxx.xxx/xxxxxxxxxxxx. This list includes all available Shoppable Health Care Services and their Shared Savings Incentive amount. Be aware, this list may change. Please check frequently to ensure you have accurate information. o When you qualify for a reward, your Shared Saving Incentive will be sent to you by check approximately 30 days after we confirm that you received care at an incentive eligible location. o AvMed must notify you, and the Office of Insurance Regulation, at least 30 days before termination of this program  • Shared Savings Incentive means a voluntary and optional financial incentive that a health insurer may provide to an insured for choosing certain Shoppable Health Care Services under a Shared Savings Incentive Program.