Stock Transfers
In the case of a Corporation, the Medicare agreement is between the Department of Health and Human Services (Medicare program) and the Corporation. If the stock is transferred, CMS does not view this as a change of ownership, but as a change in information. Potentially the stock transfer could impact every section of the application. The Palmetto GBA staff will ask the following questions:
What management positions changed as a result of the stock transfer?
All appropriate management have been added or deleted from the application.
Did board members change as a result of the stock transfer?
Possibly board members need to be added or deleted from the application.
Are any of the addresses/telephone numbers changing as a result of the stock transfer?
Should the stock transfer impact the pay to address and no application is on file, the provider may have to submit an entire application as a result of the change.
CMS 855A Sections Required
Section 1 (A.1,A.2,A.3)
Potentially all sections could be required.
Section 6 (for authorized representative, if no application is on file.)
Section 15
Supporting Documentation
Copy of the stock certificate/transfer of sale.
Actions Taken By Intermediary
Providers will receive a confirmation letter notifying them that the stock transfer information has been changed. State agencies will be notified by copy of this letter and a copy of the CMS 855A.