Latest news with #Over-the-Counter
Malaysian Reserve
17-07-2025
- Health
- Malaysian Reserve
Peach State Health Plan's $27.7M Investment Shows Strong Commitment to Member Wellness
ATLANTA, July 17, 2025 /PRNewswire/ — Peach State Health Plan (PSHP) has invested $27.7 million in additional Medicaid benefits from 2022 through 2024. Known as Value-Added Benefits (VABs), this includes services and activities designed to encourage healthy behaviors, strengthen care connections, and improve overall access to support. They are meaningful, real-life resources that help the health plan's most vulnerable members stay covered, well, and supported. Some restrictions and limitations may apply. Over the past three years, 20% of PSHP's total VABs spending, or $5.4 million, was dedicated to vision care. Additional investments included $5.0 million for My Health Pays (Wellness Works), $4.3 million for Over-the-Counter (OTC) items, and $3.4 million for dental care. 'Our mission is rooted in supporting the communities we serve,' said Clyde White, President and CEO of Peach State Health Plan. 'This investment is another way we are delivering on that promise, providing our members with resources that go beyond basic healthcare, so they can live healthier lives.' This year's VABs portfolio reflects on PSHP's commitment to supporting members' day-to-day needs and placing a stronger focus on removing barriers to care especially those tied to social drivers of health (SDOH). From job training and mental health tools to emergency childcare, every benefit is a touchpoint that shows members that they matter, and that Medicaid means more. Here is some of what's included in PSHP's 2025–2026 benefit cycle: Up to six months of emergency childcare support provided through Quality Care for Children for eligible members facing urgent needs such as interviews, medical visits, or loss of care. New 24/7 mental health support through Pyx Health gives members free, anytime access to emotional check-ins, encouragement, and real human connection. Up to $240 each year to shop for everyday health essentials like cold medicine, toothpaste, and other care items at no cost through the Over-the-Counter (OTC) Benefit, making it easier to stay healthy while and stretch household budgets. School-Break Grocery Allowance: Provides eligible Medicaid families with a prepaid card to help cover the cost of healthy groceries when school meals aren't available. Free annual eye exam and $100 toward glasses, contacts or broken frames through our Vision Benefit. Work-Ready Scholarships which equips eligible members with career-boosting job training and certifications through Goodwill Industries, helping them gain in-demand skills and enter the workforce with confidence. 'Peach State Health Plan is committed to going beyond traditional healthcare by addressing the everyday needs of our members,' said Tara Freeney, Senior Director of Commercial Operations. 'The investment in Value-Added Benefits reflects a dedication to improving quality of life across Georgia to meet members where they are and support healthier futures.' PSHP's Value-Added Benefits are reviewed and updated every year for launch on July 1. To see a full list of available benefits, visit About Peach State Health Plan Peach State Health Plan is a care management organization that serves the needs of Georgians through a range of health insurance solutions. Peach State Health Plan serves the Medicaid and PeachCare for Kids® population in partnership with Georgia Families. The organization also focuses on under-insured and uninsured individuals through its federal insurance marketplace plan, Ambetter, and its Medicare Advantage Special Needs Plan. Peach State Health Plan is a Centene company, a leading healthcare enterprise committed to helping people live healthier lives. For more information visit
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Business Standard
09-07-2025
- Business
- Business Standard
RBI issues draft directions for novation of OTC derivative contracts
The Reserve Bank of India (RBI) on Wednesday issued draft directions for the novation of Over-the-Counter (OTC) derivative contracts, aimed at outlining the process by which a market participant can exit an existing OTC derivative contract and transfer their position to another party. Comments on the draft directions are invited from banks, market participants and other stakeholders by August 1, 2025. Novation refers to the replacement of a market maker with another market maker in an OTC derivative contract between two counterparties, resulting in a new contract between the remaining party and a third party (transferee). Under the directions, novation will require the prior consent of the remaining party and must be carried out at prevailing market rates. The RBI has also mandated that all parties adhere to existing regulatory frameworks, with the original contract being replaced by a new one with identical terms, except for the change in counterparty. 'Eligible market participants may undertake novation of an OTC derivative contract, subject to the following: the novation of an OTC derivative contract shall be done with the prior consent of the remaining party; the transaction shall be undertaken at prevailing market rates,' the draft norms said. 'The amount corresponding to the mark-to-market value of the OTC derivative contract at the prevailing market rate on the novation date shall be exchanged between the transferor and the transferee; and the parties to the novation shall adhere to the provisions of the Governing Directions and the new contract post-novation shall be in compliance with the provisions of the Governing Directions,' it said. Additionally, as part of the novation process, all parties must enter into a tripartite agreement under which the transferee replaces the transferor as the counterparty to the remaining party. The original OTC derivative contract is extinguished and replaced with a new contract that mirrors the original in all terms and parameters, except for the change in counterparty. This ensures that counterparty credit risk and market risk are fully transferred from the transferor to the transferee, and that both the transferor and the remaining party are released from their mutual obligations and rights under the original contract, which are reinstated in the new agreement between the remaining party and the transferee. While the transferor and transferee may mutually agree on a fee for the transfer, such terms will not form part of the novation agreement. Additionally, all relevant documents pertaining to the original contract and its underlying exposure must be handed over by the transferor to the transferee.
