1. Regulations
  2. title 42
  3. chapter IV-i1
  4. part 423
  5. subpart I
  6. § 423.420

View all text of Subpart I [§ 423.401 - § 423.440]

§ 423.420 - Solvency standards for non-licensed entities.

(a) Establishment and publication. CMS establishes and publishes reasonable financial solvency and capital adequacy standards for entities specified in paragraph (b) of this section.

(b) Compliance with standards. A PDP sponsor that is not licensed by a State and for which a waiver application is approved by CMS under § 423.410 or § 423.415 must maintain reasonable financial solvency and capital adequacy in accordance with the standards established by CMS under paragraph (a) of this section.

AUTHORITY: 42 U.S.C. 1302, 1306, 1395w-101 through 1395w-152, and 1395hh.

SOURCE: 70 FR 4525, Jan. 28, 2005, unless otherwise noted.

CITE AS: 42 CFR 423.420