Claims Payment Account definition

Claims Payment Account means an account utilized by the Plan Sponsor for payment or reimbursement for Covered Services, which account balances shall constitute assets of the Plan Sponsor and not the Plan.
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Claims Payment Account means an account, established and maintained by Plan Sponsor, or the Administrator or Trustee as Plan Sponsor’s designee, to provide appropriate funding for payment or reimbursement for Covered Services. Plan Sponsor shall designate in writing whether such Account shall be an asset of Plan Sponsor or an asset of the Plan.
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Claims Payment Account means an account established by and owned by the Trust for payment or reimbursement for Covered Services.
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Examples of Claims Payment Account in a sentence

  • BJC shall then have one business day to transfer the necessary amount via ACH transfer from an alternative BJC account into the Claims Payment Account.

  • The Managing General Agent shall, and shall cause its officers and employees to, only use such Claims Payment Account for the payment of losses, claims and loss adjustment expenses under the Subject Business that are reinsured under the Reinsurance Agreement.

  • The Managing General Agent shall establish reasonable controls, policies and procedures designed to ensure that the Claims Payment Account is only used for such purposes.

  • Every week the TPA will notify the Plan Sponsor of the Claims batch amount required to be prospectively deposited to the Claims Payment Account to pay the Claims liability after these Claims are processed for payment.

  • The parties understand and agree that under state and/or federal statutes and regulations governing insurers, HMOs and claims turnaround times/payment procedures, Plan may be required to pay any due and outstanding Claims even in the event that amounts then in the Claims Payment Account are unavailable to Plan and/or insufficient to pay such Claims, putting Plan at risk for Claims responsibility contrary to the intent of this Agreement.

  • In the event GHP receives information from the bank that the Claims Payment Account does not have sufficient funds to cover that Capitation check run, GHP shall notify the BJC Contact Person identified pursuant to Section 3 of the Agreement of the amount of the shortfall.

  • MeSH Major Topic stands for the main topic of the given article, usu- ally obtained from the title and/or statement of purpose (see https://www.nlm.nih.gov/ bsd/disted/meshtutorial/principlesofmedlinesubjectindexing/majortopics/ ac- cessed on July 14, 2019).

  • In the event GHP receives information from the bank that the Claims Payment Account does not have sufficient funds to cover such non-capitation Claims check run, GHP shall notify the BJC Contact Person identified pursuant to Section 3 of this Agreement of the amount of the shortfall.

  • The parties agree that from and after the fifteenth month of this Agreement, BJC may request quarterly withdrawals from the Claims Payment Account.

  • TPA will notify Plan Sponsor or its designee on a weekly basis of amount required to be deposited to the Claims Payment Account to pay claims after they have been processed for payment.


More Definitions of Claims Payment Account

Claims Payment Account means a bank account to be established by Client and to which Client will contribute the amounts agreed hereunder and from which Administrator may draw funds to pay claims and Allocated Loss Adjustment Expenses required in the administration of Client's Program covered by this Agreement.
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Related to Claims Payment Account

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Retention Account means an interest bearing Dollar account of the Borrowers opened or (as the context may require) to be opened jointly by the Borrowers with the Account Bank and includes any sub-accounts thereof and any other account designated in writing by the Agent to be a Retention Account for the purposes of this Agreement;

  • Individual retirement account means an individual retirement account under Section 408 of the Code, a Roth IRA under Section 408A of the Code, a simplified employee pension under Section 408(k) of the Code or a simple retirement account for employees under Section 408(p) of the Code.

  • Collection Accounts As defined in Section 3.10(a).

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Investment Account As defined in Section 3.12(a).

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 2.2.