Common use of Third Party Administrator Clause in Contracts

Third Party Administrator. In the event that the SRHCC determines to adopt a plan for medical, hospitalization, dental, prescription drug, or other insurance benefits under which each Participating Member is obligated to pay claims up to a predetermined level, the SRHCC shall enter into a contract with a Third-Party Administrator to evaluate and process the payment of claims. The Third-Party Administrator shall be any organization with experience in the administration of health plan claims determined by the Board of Directors to be qualified, financially sound, and capable of meeting all of the service requirements of the contract of administration and any additional requirements which may be established by the Board of Directors. The Third-Party Administrator shall perform those duties specified in the contract which shall be entered into between the Third-Party Administrator and the SRHCC in accordance with the provisions of this Agreement.