Common use of Receipt of Payment Clause in Contracts

Receipt of Payment. Funds to pay the difference between premiums and the total of allowable administrative costs and claims will be placed in an account established with the Payment Management System (PMS). PMS is administered by the Division of Payment Management (DPM), an office of U.S. Department of Health & Human Services' (HHS) Program Support Center, Financial Management Service (xxxx://xxx.xxx.xxx.xxx). The Contractor may submit a request for payment for the claims and allowable administrative costs for review and approval, as often as daily, on a Standard Form 270. The Contractor’s request may not contain personally identifiable information describing the enrollees in the high risk pool. Upon approval, funds will be disbursed to the Contractor via electronic funds transfer. HHS will reimburse costs incurred under the terms of this contract up to the amount allotted to the state, but shall not pay the Contractor a fee or profit for performing this contract.

Receipt of Payment. Funds to pay the difference between premiums and the total of allowable administrative costs and claims will be placed in an account established with the Payment Management System (PMS). PMS is administered by the Division of Payment Management (DPM), an office of U.S. Department of Health & Human Services' (HHS) Program Support Center, Financial Management Service (xxxx://xxx.xxx.xxx.xxx). The Contractor may submit a request for payment for the claims and allowable administrative costs for review and approval, as often as daily, on a Standard Form 270. The Contractor’s request may not contain personally identifiable information describing the enrollees in the high risk pool. Upon approval, funds will be disbursed to the Contractor via electronic funds transfer. HHS will reimburse costs incurred under the terms of this contract up to the amount allotted to the statecontract, but shall not pay the Contractor a fee or profit for performing this contract.