Submitting OIG:
Report Description:
CMS established loan agreements with Consumer Operated and Oriented Plans (CO-OPs) to provide startup and solvency loan funding. CMS issued a memo to the CO-OPs in July 2015 allowing the CO-OPs to convert startup loans into surplus notes. A surplus note is a bondlike instrument issued to provide needed capital. Under the terms of a surplus note, CO-OPs are not required to make any repayment on the surplus note that could lead to financial distress or default.
Date Issued:
Thursday, August 4, 2016
Agency Reviewed / Investigated:
Submitting OIG-Specific Report Number:
A-05-16-00019
Component, if applicable:
Centers for Medicare & Medicaid Services
Location(s):
Agency-Wide
Type of Report:
Audit
Questioned Costs:
$0
Funds for Better Use:
$0
Number of Recommendations:
2
View Document:
Attachment | Size |
---|---|
51600019.pdf | 1.37 MB |
Additional Details Link: