Terms Used In Michigan Laws > Chapter 550 > Act 175 of 2018 - Insurance Provider Assessment Act

• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Department: means the department of treasury. See Michigan Laws 550.1753
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Federal employee health benefit: means the program of health benefits plans, as defined in 5 USC 8901, available to federal employees under 5 USC 8901 to 8914. See Michigan Laws 550.1753
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fund: means the insurance provider fund created in section 13. See Michigan Laws 550.1753
• Health insurer: means an insurer authorized under the insurance code of 1956, 1956 PA 218, MCL 500. See Michigan Laws 550.1753
• in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
• Insurance provider: means a Medicaid managed care organization or a health insurer. See Michigan Laws 550.1753
• Medicaid contracted health plan: means a contracted health plan as that term is defined in section 106 of the social welfare act, 1939 PA 280, MCL 400. See Michigan Laws 550.1753
• Medicaid managed care organization: means a Medicaid contracted health plan or a specialty prepaid health plan. See Michigan Laws 550.1753
• Medicare: means the federal Medicare program established under title XVIII of the social security act, 42 USC 1395 to 1395lll. See Michigan Laws 550.1753
• Member months: means the total number of individuals for whom the insurance provider has recognized revenue for 1 month. See Michigan Laws 550.1753
• month: means a calendar month; the word "year" a calendar year; and the word "year" alone shall be equivalent to the words "year of our Lord". See Michigan Laws 8.3j
• person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
• Specialty prepaid health plan: means an entity designated by the department of health and human services as a regional entity pursuant to section 204b of the mental health code, 1974 PA 258, MCL 330. See Michigan Laws 550.1753
• state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
• stop loss: means coverage that provides insurance protection against the accumulation of total claims exceeding a stated level for a group as a whole or protection against a high-dollar claim on any 1 individual. See Michigan Laws 550.1753