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.
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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.

Related to Payment Correction

  • Disturbance Control Standard or “DCS” shall mean the reliability standard that sets the time limit following a disturbance within which a balancing authority must return its Area Control Error to within a specified range.

  • Nonconformance as used in this clause means a condition of any hardware, software, material, or service/workmanship in which one or more characteristics do not conform to requirements.

  • Improvement completion assurance means a surety bond, letter of credit,

  • Error Correction means the use of reasonable commercial efforts to correct Errors.

  • Substitute Improvements means the substitute or additional improvements of the Issuer described in Article V hereof.