party in interest
(4) Disclosure (A) In general Each Medicare+Choice organization shall, in accordance with regulations of the Secretary, report to the Secretary financial information which shall include the following: (i) Such information as the Secretary may require demonstrating that the organization has a fiscally sound operation. (ii) A copy of the report, if any, filed with the Secretary containing the information required to be reported under section 1320a–3 of this title by disclosing entities. (iii) A description of transactions, as specified by the Secretary, between the organization and a party in interest. Such transactions shall include— (I) any sale or exchange, or leasing of any property between the organization and a party in interest; (II) any furnishing for consideration of goods, services (including management services), or facilities between the organization and a party in interest, but not including salaries paid to employees for services provided in the normal course of their employment and health services provided to members by hospitals and other providers and by staff, medical group (or groups), individual practice association (or associations), or any combination thereof; and (III) any lending of money or other extension of credit between an organization and a party in interest. The Secretary may require that information reported respecting an organization which controls, is controlled by, or is under common control with, another entity be in the form of a consolidated financial statement for the organization and such entity. (B) “Party in interest” defined For the purposes of this paragraph, the term “party in interest” means— (i) any director, officer, partner, or employee responsible for management or administration of a Medicare+Choice organization, any person who is directly or indirectly the beneficial owner of more than 5 percent of the equity of the organization, any person who is the beneficial owner of a mortgage, deed of trust, note, or other interest secured by, and valuing more than 5 percent of the organization, and, in the case of a Medicare+Choice organization organized as a nonprofit corporation, an incorporator or member of such corporation under applicable State corporation law; (ii) any entity in which a person described in clause (i)— (I) is an officer or director; (II) is a partner (if such entity is organized as a partnership); (III) has directly or indirectly a beneficial interest of more than 5 percent of the equity; or (IV) has a mortgage, deed of trust, note, or other interest valuing more than 5 percent of the assets of such entity; (iii) any person directly or indirectly controlling, controlled by, or under common control with an organization; and (iv) any spouse, child, or parent of an individual described in clause (i). (C) Access to information Each Medicare+Choice organization shall make the information reported pursuant to subparagraph (A) available to its enrollees upon reasonable request.