Additional Option Year

The Centers for Medicare & Medicaid Services (CMS) is planning to extend the option period for three existing Medicare banking contracts held by J.P. Morgan Chase, PNC Bank, and Bank of America Corporation. This extension is intended to ensure continuous Medicare payments during the transition of the current banking work to two new contracts, a process expected to take less than two months. Additionally, the extension allows the banks to maintain current accounts to process stale-dated checks, a task projected to take up to twelve months. The extension covers the period from April 1, 2010, through March 31, 2011, with an estimated total cost not exceeding $500,000. The contracts involved are identified by their numbers: HHSM-500-2009-00017C, HHSM-500-2009-00028C, and HHSM-500-2009-00031C. The contracting office overseeing this extension is based at CMS in Baltimore, Maryland, with key contacts including Contract Specialist Salem Fussell and Contracting Officer Kathy Markman. The NAICS code associated with this contract is 522110, relating to banking institutions. This administrative action ensures operational continuity and facilitates proper handling of pending transactions while new contractual arrangements are finalized.