PRF definition
Examples of PRF in a sentence
If a member transfers to another MCE during their benefit period, the Contractor shall submit an informational PRF to the State fiscal agent within thirty (30) calendar days of notification of the transfer, which shall include POWER Account balance information (including member contribution paid and POWER Account claims paid) for the new MCE, as applicable.
The Contractor shall also submit a final PRF to the State fiscal agent within one hundred twenty (120) calendar days of notification of the transfer in order to close out the member’s POWER account and transfer any remaining funds in a manner and method prescribed by the State.
This information shall be provided on the Power Account Reconciliation File (PRF), which is an electronic transaction between the Contractor and the State fiscal agent.
The Contractor must accept inbound PRF transactions when members transfer at the end of the calendar year.
Once the final PRF is filed one hundred and twenty (120) calendar days following the end of the calendar year, the Contractor may only make adjustments via the void process at the approval of the State.