SEC Contract Filing

Filing Date: 2023-09-19

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex101_bhiccmsrepaymentplan.htm
<DESCRIPTION>EX-10.1
<TEXT>
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<title>Document</title></head><body><div id="i80cadfbd53d6486fa1d6e6628c9d9ae6_1"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:100%">Exhibit 10.1</font></div></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">DEPARTMENT OF HEALTH AND HUMAN SERVICES </font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">CENTERS FOR MEDICARE &#38; MEDICAID SERVICES </font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">7500 Security Boulevard, Mail Stop WB-22-75 Baltimore, Maryland 1244-1850 </font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">To&#58; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">Jay Matushak, President, Chief Financial Officer </font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%"> Jeff Craig, Secretary </font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%"> Bright Health Insurance Company </font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%"> Payee ID A1025001 (HIOS ID BHIC-CO-31070) </font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%"> jcraig&#64;brighthealthgroup.com </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Date&#58; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">September 14, 2023 </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">RE&#58; Bright Health Insurance Company (BHIC-CO) </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">Repayment Plan Approval and Letter of Agreement</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">Dear Messrs. Matushak and Craig&#58; </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">On August 21, 2023, BHIC-CO requested a repayment plan to pay the outstanding 2022 benefit year risk adjustment charges on BHIC-CO's August 16, 2023 initial invoices totaling </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">$163,394,891.07</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">. CMS has determined that you meet applicable criteria to enter into an 18-month repayment plan.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">For CMS to implement the 18-month payment plan, you must&#58;</font></div><div><font><br></font></div><div style="padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">1. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Sign and submit this letter to provide your written understanding and agreement to the terms of this Letter of Agreement concerning the 18-month repayment plan CMS approved (the &#8220;Repayment Plan&#8221;) </font><font style="color:#ff0000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">no later than 11&#58;59 p.m. ET on Thursday, September 14, 2023</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">The signed Letter of Agreement must be sent to </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%;text-decoration:underline">CCIIOInvoices&#64;cms.hhs.gov</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">. </font></div><div><font><br></font></div><div style="padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">2. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Pay the first payment of $42,000,000.00, due </font><font style="color:#ff0000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">no later than 11&#58;59 p.m. ET on Friday, September 15, 2023</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">.