Claims Account. AUL agrees to perform the following services with respect to the collection of amounts due to the Company and the maintenance of the Claims Account:
Claims Account. The Claims Account shall be utilized for the payment of claims and settlements. All contribution of members intended for claims and settlements, and earnings thereon, shall be deposited to the Investment Account and shall be invested as provided in Article V. The Administrator shall be authorized to withdraw funds from the Investment Account to transfer to the Claims Account for the purpose of paying claims. The Administrator and the Board of Directors shall be authorized to withdraw funds from the Claims Account upon such conditions as the Board may direct.
Claims Account. A Claims Account shall be established. The capital of the Claims Account shall be used for the following purposes:
Claims Account. War Lake acknowledges that a portion of the payment being made by Hydro pursuant to section 2.2 is to be used to cover the payment of Members’ Claims, and accordingly, the Indenture requires the establishment of a Claims Account to cover Members’ Claims.
Claims Account. The Company and the Employer shall establish and maintain those banking arrangements, including the Claims Account, described in Exhibit C to the Agreement. In addition to its obligations under Exhibit C, the Employer shall fund the Claims Account as necessary to enable the Company to pay in a timely manner from the Claims Account the Health Benefits described in section 2(a).
Claims Account. The parties acknowledge that claims under the Plan are to be paid from a separate fund account established by the City. City shall be solely responsible for funding said account. City shall not name UHS or represent that UHS is, and UHS shall not be, a trustee or custodian over the account or the Plan. Prior to the effective date of this Agreement, City shall give UHS the right to initiate Automated Clearinghouse ("ACH") transfers from the City account to a UHS account which UHS will use to pay claims. No such amounts which are to be or are transferred to UHS shall be considered Plan assets. UHS shall also be given the right to access information regarding the balance in City's account from which ACH transfers are being made. At the end of each claims processing time period, UHS may, within 48 hours following notice to City, initiate ACH transfers from the City account in an amount necessary to pay the claims processed by UHS.
Claims Account. The parties acknowledge that claims under the Plan are to be paid from a separate fund account established by the City. City shall be solely responsible for funding said account. City shall not name UHS or represent that UHS is, and UHS shall not be, a trustee or custodian over the account or the Plan. Prior to the effective date of this Agreement, City shall arrange to initiate Automated Clearinghouse ("ACH") transfers from the City account to a UHS account which UHS will use to pay claims. No such amounts which are to be or are transferred to UHS shall be considered Plan assets. UHS shall also be given the right to access information regarding the balance in City's account from which ACH transfers are being made. At the end of each claims processing time period, UHS shall provide notice to City via telephone of the amount necessary to pay claims processed. City shall, within 48 hours following receipt of notice from UHS, initiate ACH transfers from the City account to a UHS account in an amount necessary to pay the claims processed by UHS. In the event that for any reason funds are not available to complete an ACH transfer in the required amount and City fails to cause the account to provide the required amount of funds within the required 48 hours following notice of the need to provide such funds, UHS shall have the right to terminate this Agreement immediately and may provide notice of such termination to Preferred Providers and Covered Persons. In the event that City has at any time failed to make funds available to pay claims for Health Services or has failed to pay fees to UHS, in addition to any other remedies, UHS shall have the right to arrange an offset of any unpaid amounts against any amounts owed to City by UHS, or any entity affiliated with UHS. City acknowledges and agrees that the UHS accounts into which money from City is transferred may contain money from one or more other sponsors of self-insured health plans or health plans under contract with UHS for administrative services. City also acknowledges and agrees that any and all interest earned from such UHS account(s) shall belong to UHS.
Claims Account. (a) The Board assumes all financial responsibility for claims submitted for Covered Individuals to Contractor, whether by Participating Pharmacies or Covered Individuals. The Board shall maintain an account and shall be solely responsible for depositing funds and verifying that such account upon which Contractor will draw has sufficient funds to cover pharmacy claims costs, Covered Individual claims costs, and Contractor administrative fees (“Account”). Prior to the effective date of this Contract, the Board shall give Contractor the right to initiate Automated Clearinghouse (“ACH”) transfers from the Account to a Contractor account for payment of pharmacy claims and Contractor Administrative fees. Such authorization for ACH transfers from the Account by Contractor shall be maintained throughout the term of this Contract. Board shall maintain in the Account at all times an amount at least equal to one-half (1/2) of one month’s prescription claims and administrative fees (“Required Draw Amount”), as estimated in good faith by Contractor, and, in addition, Board shall provide to Contractor sufficient funds to hold within Contractor’s account(s) an amount at least equal to three-fourths (3/4) of one month’s prescription claims and administrative fees. Billing and payment cycles for pharmacy claims and administrative fees will occur twice monthly. Billing and payment cycles for claims submitted directly by Covered Individuals will occur weekly. Contractor will electronically send invoices, in forms satisfactory to both parties, to Board two (2) business days prior to automatically withdrawing the appropriate funds from Board’s Account, as follows:
Claims Account. (a) The Board assumes all financial responsibility for claims submitted for Covered Individuals to Contractor, whether by Participating Pharmacies or Covered Individuals. Board shall initiate Automated Clearinghouse (“ACH”) transfers to Contractor within two business days of receipt of Contractor invoices as authorized below.
Claims Account. Fox Lake acknowledges that a portion of the payment being made by Hydro pursuant to subsection 2.2.2 is to be used to cover the payment of Citizens’ Claims advanced before and after the Date of this Agreement, and accordingly, a Claims Account has been established under the Indenture to cover the cost of these claims.
