(a) Every contract shall contain a clause for termination consistent with the Managed Care Reform and Patient Rights Act providing nursing homes the ability to terminate the contract.
     (b) All changes to the contract by the MCO shall be preceded by 30 days’ written notice sent to the nursing home.
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Terms Used In Illinois Compiled Statutes 305 ILCS 5/5F-40

  • Contract: A legal written agreement that becomes binding when signed.
  • MCO: means an entity that meets the definition of health maintenance organization as defined in the Health Maintenance Organization Act, is licensed, regulated and in good standing with the Department of Insurance, and is authorized to participate in the nursing home component of the Medicare-Medicaid Alignment Initiative Demonstration Project by a 3-way contract with the Department of Healthcare and Family Services and the Centers for Medicare and Medicaid Services. See Illinois Compiled Statutes 305 ILCS 5/5F-15
  • Nursing home: means a facility licensed under the Nursing Home Care Act. See Illinois Compiled Statutes 305 ILCS 5/5F-15
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