PIHP Assurance of Financial Risk Protection Sample Clauses

PIHP Assurance of Financial Risk Protection. The PIHP must provide to MDCH upon request, documentation that demonstrates financial risk protections sufficient to cover the PIHP's determination of risk. The PIHP must update this documentation any time there is a change in the information.
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PIHP Assurance of Financial Risk Protection. The PIHP must provide to MDCH upon request, documentation that demonstrates financial risk protections sufficient to cover the PIHP's determination of risk. The PIHP must update this documentation any time there is a change in the information. The PIHP may use one or a combination of measures to assure financial risk protection, including pledged assets, reinsurance, and creation of an ISF. The use of an ISF in this regard must adhere to Attachment P 7.7.4.1, and must be reported to the MDCH as required by the financial reporting requirements of this contract. The PIHP will submit a specific written Risk Management Strategy to the Department within sixty days of signing this contract. The Risk Management strategy will identify the amount of reserves, insurance and other revenues to be used by the PIHP to assure that its risk commitment is met. Whenever General Funds are included as one of the listed revenue sources, MDCH may disapprove the list of revenue sources, in whole or in part, after review of the information provided and a meeting with the PIHP. Such a meeting will be convened within 45 days after submission of the risk management strategy. If disapproval is not provided within 60 days following this meeting, the use of general funds will be considered to be allowed. Such disapproval will be provided in writing to the PIHP within 60 days of the first meeting between MDCH and the PIHP. Should circumstances change, the PIHP may submit a revision to its Risk Management Strategy at any time. MDCH will provide a response to this revision, when it changes the PIHPs intent to utilize General Funds to meet its risk commitment, within 30 days of submission.
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Related to PIHP Assurance of Financial Risk Protection

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