US · guidance
CMS Pub. 100-16, ch. mc86c17a, § 10.4
Electronic Transfer of Funds
CMS, in conjunction with the Department of Treasury, may utilize electronic funds
transfers. Interim and other types of payments are electronically sent to HMO/CMPs
through the Automated Clearing House (ACH). This process improves the efficiency of
Federal financial management and also benefits the HMO/CMPs.
The ACH provides on-line access to the Federal Reserve Communications System
(FRCS), allowing payments to be made to financial institutions with access to the FRCS.
For financial institutions that do not have access to the FRCS, HMO/CMP payments can
be paid through correspondent financial institutions or Federal Reserve Banks.
The ACH payment method eliminates mail and processing time associated with payment
by check. The HMO/CMP receives a payment through the HMO/CMP's financial
institution on the payment due date. This is a more secure and reliable method of making
and receiving payment. HMO/CMPs electing the electronic transfer of funds must
indicate this on the system setup sheet that is included in the contract application. To
initiate this process, the HMO/CMP should contact the designated CMS Plan Manager.
History
(Rev. 4, 10-01-01)
Provenance
- Source
- cms.gov
- Retrieved
- 2026-08-25
- Edition
- iom-2026-08-25
- Content hash
970a35e21d82107b5ab5d88d585ccaa7c3c541255f6e94e4eaafe6acc9efd820
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