Payment Correction definition
Payment Correction refers to the process to correct previous payments in such instances where a payment was made in error, or updated details regarding a beneficiary’s enrollment has resulted in identifying a previous payment was made where one should not have been made. Payment Correction will occur in instances in which beneficiaries were found to be incarcerated, within a nursing facility or deceased.
Examples of Payment Correction in a sentence
This correction shall be made as follows: Payment of Employees Award%) (Sum of actual Individual Objectives%) Individual Objective% = Payment Correction * Individual Objective% Before Correction The Variable Payment shall be calculated as follows: Employee Performance + Individual Objectives%) ▇▇▇▇▇▇ is the salary control point in the employee’s salary classification effective July for the calendar performance year.