§ 423.521 Final settlement process and payment.

(a) Notice of final settlement. After the calculation of the final settlement amount, CMS sends the Part D sponsor a notice of final settlement. The notice of final settlement contains at least the following information:

(1) A final settlement amount for the contract that has been consolidated, nonrenewed, or terminated, which may be one of the following:

(i) An amount due to the Part D sponsor.

(ii) An amount due from the Part D sponsor.

(iii) $0 if nothing is due to or from the Part D sponsor.

(2) Relevant banking and financial mailing instructions for Part D sponsors that owe CMS a final settlement amount.