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PHYSICAL HEALTH INSURANCE CONTRACT AGREEMENT

Insurance Agreement

PHYSICAL HEALTH INSURANCE CONTRACT AGREEMENT | Document Parties: TRIPLE-S MANAGEMENT CORP | Puerto Rico Health Insurance | TRIPLE-S SALUD, INC You are currently viewing:
This Insurance Agreement involves

TRIPLE-S MANAGEMENT CORP | Puerto Rico Health Insurance | TRIPLE-S SALUD, INC

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Title: PHYSICAL HEALTH INSURANCE CONTRACT AGREEMENT
Date: 8/4/2010
Industry: Insurance (Accident and Health)     Sector: Financial

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Exhibit 10.1

2008-000065H

PHYSICAL HEALTH INSURANCE
CONTRACT

AGREEMENT BETWEEN

Puerto Rico Health Insurance Administration (PRHIA) a public instrumentality of the Commonwealth of Puerto Rico organized pursuant to Act 72, of September 7, 1993, as amended, hereinafter referred to as the “ ADMINISTRATION ”, and represented by its Executive Director, Domingo Nevárez Ramírez, MHSA;

And

TRIPLE-S SALUD, INC., a private corporation duly organized and authorized to do business under the laws of the Commonwealth of Puerto Rico, with Employer Social Security Number 660-55-5677 , hereinafter referred to as “ INSURER ”, and represented by its Chief Executive Officer, Ms. Socorro Rivas ;

Contractor Name

For the Provision of Health Insurance

coverage to eligible population under the

Government Health Insurance Plan

 


 

WITNESSETH

In consideration of the mutual covenants and agreements hereinafter set forth, the parties, their personal representative and successors, agree as follows:

WHEREAS: The parties entered into Contract number 08-065 (the Contract) to provide health insurance coverage for the North and Southwest Areas medically indigent population; enrolled in the Government Health Insurance Plan (GHIP) for the period through November 1, 2006 until June 30, 2008.

WHEREAS : The Contract was extended through the Amendment Number 08-065-F from July 1, 2008 until October 31, 2009, in consideration of the period of time needed by the ADMINISTRATION Board of Directors to decided who are the proponents selected to begin negotiations with the ADMINISTRATION .

WHEREAS : The Board of Directors of the ADMINISTRATION in a Extraordinary Meeting celebrated on October 2, 2009, decided not to award contracts to any of the proponents who submitted its proposal to the ADMINISTRATION for the physical, mental and oral health coverage under the Governmental Health Insurance Plan. The Board recommended that the contracts be extended until June 30, 2010. In a Meeting of the Board of Directors celebrated on October 30, 2009, the Board directed ASES to extend the contract for a two month period (from November 1, 2009 to December 31, 2009) to give the ADMINISTRATION the necessary time to negotiate the contract extension contemplated in the Oct


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