POWER Account Balance Transfers Clause Samples

The POWER Account Balance Transfers clause governs the process by which funds are moved between POWER accounts, typically within a health savings or similar financial arrangement. It outlines the conditions under which such transfers can occur, such as eligibility requirements, timing, and any necessary approvals or documentation. This clause ensures that account holders can efficiently reallocate their balances as needed, providing flexibility and control over their funds while maintaining compliance with program rules.
POWER Account Balance Transfers. 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. If the member transfer occurs at the end of the calendar year benefit period, the Contractor remains responsible for determining the amount of member roll over, as well as any amounts that shall be credited back to the State. The Contractor will be required to forward the roll over amount to the State and credit to the State its share of the POWER Account balance, as described above. The Contractor must accept inbound PRF transactions when members transfer at the end of the calendar year. The Contractor must apply the member’s payments and rollover to the POWER Account for the calendar year. The Contractor shall comply with the MCE transfer policies and procedures set forth in HIP MCE Policies and Procedures Manual as well as the POWER Account technical requirements. The Contractor shall be required to comply with the requirements set forth in the documents as of the effective date of the Contract.
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POWER Account Balance Transfers. If an enrollee transfers to a new MCO or ESP, the enrollee’s POWER Account balance will be transferred to the State within thirty (30) days from the date the MCO or ESP was notified by the State. For a transfer at the end of a coverage term, the current MCO or ESP remains responsible for determining the amount of the enrollee’s POWER Account that may be carried over, and forwarding that amount to the State. The State will forward the balance to the new MCO or ESP.
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Related to POWER Account Balance Transfers

  • Account Balances Balances shown in your accounts may include deposits subject to verification by us. The balance reflected in the Service may differ from your records due to deposits in progress, checks outstanding, or other withdrawals, payments or charges. A transfer request may not result in immediate availability because of the time required to process the request. A transfer request must be made before the Business Day Cut-off time to be effective the same Business Day. The balances within the Service are updated periodically and the Service will display the most current "as of" date on the "accounts" summary page. There may be situations that cause a delay in an update of your balances. The Service will use the most current balance available at the time of a transaction to base our approval for account transfers.

  • Balance Transfers Finance charges will be imposed on the aggregate balance including all Balance Transfers as described in Section 7 of this part C (below), starting on the date of the Balance Transfer and lasting until paid in full.

  • Account Balance The Servicer must never allow any Custodial T&I Account to become overdrawn as to any individual related Borrower. If there are insufficient funds in the account, the Servicer must advance its own funds to cure the overdraft.

  • Investment Funds Unregistered general or limited partnerships or pooled investment vehicles and/or registered investment companies in which the Company (directly, or indirectly through the Master Fund) invests its assets that are advised by an Investment Manager.