Non-Payment of Monthly POWER Account Contribution Sample Clauses

Non-Payment of Monthly POWER Account Contribution. Other than the exceptions listed in Section 4.7.1, HIP members who do not make a required POWER Account contribution within sixty (60) calendar days of its due date or an initial fast track prepayment prior to the expiration of the sixty (60) calendar day fast track period will either be (i) terminated from the program and disenrolled from the Contractor’s plan if the member has income greater than 100% FPL, or (ii) transferred to HIP Basic benefits if the member has income equal to or less than 100% FPL or are otherwise exempt from non-payment penalties, in accordance with Section 4.7.1. Notwithstanding the foregoing, upon non-payment, members receiving HIP State Plan benefits who either have income equal to or less than 100% FPL or are otherwise exempt from non-payment penalties as set forth in Section 4.7.1 will be required to make co-payments consistent with Section 4.1.2, but will not be subject to a change in benefits. Payment via a dishonored check due to non-sufficient funds (NSF) will be considered non- payment, and members who have made such a payment will be terminated from the program or transferred to HIP Basic, as applicable, if they are unable to provide the full amount that is in delinquency within sixty (60) calendar days of its original due date. If a member’s check is returned for non-sufficient funds, the Contractor may charge a reasonable fee for the returned check. The Contractor shall develop, print and mail notices to members if their payments are returned from the bank due to non-sufficient funds. The Contractor shall notify the State, through CoreMMIS, when a member does not pay their initial fast track prepayment by its due date, or their POWER Account contribution within sixty (60) calendar days of its due date. Upon the expiration of the payment due date, if no payment has been received, the Contractor shall send notification to the State electronically in accordance with the HIP MCE Policies and Procedure manual no later than three (3) business days from the expiration of the payment due date. The Contractor shall wait until either a termination record is received from the State to terminate a fully enrolled member from the plan, or until other notice is received from the State indicating a change in benefits to HIP Basic.
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Non-Payment of Monthly POWER Account Contribution. If an enrollee does not make a required monthly contribution within 60 days of its due date, the enrollee will be terminated from participation in HIP and disenrolled from the MCO or ESP. The enrollee will also forfeit 25 percent of the enrollee’s pro rata share of funds remaining in the POWER account.
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Non-Payment of Monthly POWER Account Contribution. Other than the exceptions listed in Section 4.7.1, HIP members who do not make a required POWER Account contribution within sixty (60) calendar days of its due date or an initial fast track prepayment prior to the expiration of the sixty (60) calendar day fast track period will either be (i) terminated from the program and disenrolled from the Contractor’s plan if the member has income greater than 100% FPL, or (ii) transferred to HIP Basic benefits if the member has income equal to or less than 100% FPL or are otherwise exempt from non-payment penalties, in accordance with Section 4.7.1. Notwithstanding the foregoing, upon non-payment, members receiving HIP State Plan benefits who either have income equal to or less than 100% FPL or are otherwise exempt from non-payment penalties as set forth in Section 4.7.1 will be required to make co-payments consistent with Section 4.1.2, but will not be subject to a change in benefits. Payment via a dishonored check due to non-sufficient funds (NSF) will be considered non- payment, and members who have made such a payment will be terminated from the program or transferred to HIP Basic, as applicable, if they are unable to provide the full amount that is in delinquency within sixty (60) calendar days of its original due
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Related to Non-Payment of Monthly POWER Account Contribution

  • When Must Distributions from a Xxxxxxxxx Education Savings Account Begin? Distribution of a Xxxxxxxxx Education Savings Account must be made (or otherwise will be deemed made) no later than 30 days from the earlier of the beneficiary’s death or attainment of age 30. A distribution from a Xxxxxxxxx Education Savings Account may be rolled over to another beneficiary’s Xxxxxxxxx Education Savings Account according to the requirements of Section (4). Note that the Economic Growth and Tax Relief Reconciliation Act of 2001 waives the distribution age limitation if the beneficiary of the Xxxxxxxxx Education Savings Account is a “Special Needs” student.

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Interest Bearing Account If the Province provides Funds before the Recipient’s immediate need for the Funds, the Recipient will place the Funds in an interest bearing account in the name of the Recipient at a Canadian financial institution.

  • Non-Retirement Savings Accounts An account maintained in the Cayman Islands (other than an insurance or Annuity Contract) that satisfies the following requirements under the laws of the Cayman Islands.

  • How Are Distributions from a Xxxxxxxxx Education Savings Account Taxed For Federal Income Tax Purposes? Amounts distributed are generally excludable from gross income if they do not exceed the beneficiary’s “qualified higher education expenses” for the year or are rolled over to another Xxxxxxxxx Education Savings Account according to the requirements of Section (4). “Qualified higher education expenses” generally include the cost of tuition, fees, books, supplies, and equipment for enrollment at (i) accredited post-secondary educational institutions offering credit toward a bachelor’s degree, an associate’s degree, a graduate-level or professional degree or another recognized post-secondary credential and (ii) certain vocational schools. In addition, room and board may be covered if the beneficiary is at least a “half-time” student. This amount may be reduced or eliminated by certain scholarships, qualified state tuition programs, HOPE, Lifetime Learning tax credits, proceeds of certain savings bonds, and other amounts paid on the beneficiary’s behalf as well as by any other deductions or credits taken for the same expenses. The definition of “qualified education expenses” includes expenses more frequently and directly related to elementary and secondary school education, including the purchase of computer technology or equipment or Internet access and related services. To the extent payments during the year exceed such amounts, they are partially taxable and partially non-taxable similar to payments received from an annuity. Any taxable portion of a distribution is generally subject to a 10% penalty tax in addition to income tax unless the distribution is (i) due to the death or disability of the beneficiary, (ii) made on account of a scholarship received by the beneficiary, or (iii) is made in a year in which the beneficiary elects the HOPE or Lifetime Learning credit and waives the exclusion from income of the Xxxxxxxxx Education Savings Account distribution. You may be allowed to take both the HOPE or Lifetime Learning credits while simultaneously taking distributions from Xxxxxxxxx Education Savings Accounts. However, you cannot claim a credit for the same educational expenses paid for through Xxxxxxxxx Education Savings Account distributions. To the extent a distribution is taxable, capital gains treatment does not apply to amounts distributed from the account. Similarly, the special five- and ten-year averaging rules for lump-sum distributions do not apply to distributions from a Xxxxxxxxx Education Savings Account. The taxable portion of any distribution is taxed as ordinary income. The IRS does not require withholding on distributions from Xxxxxxxxx Education Savings Accounts.

  • Xxxx Individual Retirement Custodial Account The following constitutes an agreement establishing a Xxxx XXX (under Section 408A of the Internal Revenue Code) between the depositor and the Custodian.

  • Settlement Account 4.1 The Scheduling Coordinator shall maintain at all times an account with a bank capable of Fed-Wire transfer to which credits or debits shall be made in accordance with the billing and Settlement provisions of Section 11 of the CAISO Tariff. Such account shall be the account as notified by the Scheduling Coordinator to the CAISO from time to time by giving at least 20 days written notice before the new account becomes operational, together with all information necessary for the CAISO's processing of a change in that account.

  • What if I Make a Contribution for Which I Am Ineligible or Change My Mind About the Type of IRA to Which I Wish to Contribute? Prior to the due date (including extensions) for filing your tax return, you may elect to “recharacterize” amounts that you contributed to an IRA during the year by making a recharacterization of the contributed amount and earnings. Thus, for example, if you contribute amounts to a Xxxx XXX and later determine that you are ineligible to make a Xxxx XXX contribution for the year, you may at any time prior to the tax return due date for the year (including extensions) make a recharacterization of the contributions and earnings to a Traditional IRA.

  • SIMPLE Individual Retirement Custodial Account (Under section 408(p) of the Internal Revenue Code) The participant named above is establishing a savings incentive match plan for employees of small employers individual retirement account (SIMPLE IRA) under sections 408(a) and 408(p) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named above has given the participant the disclosure statement required by Regulations section 1.408-6. The participant and the custodian make the following agreement:

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

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