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SECTION .0700 ‑ HEALTH MAINTENANCE ORGANIZATION CLAIM RESERVE DATA REQUIREMENTS

 

 

 

11 NCAC 16 .0701             DEFINITIONS

As used in this Section:

(1)           "Claim reserves" means reserves or liabilities held for claims incurred on or before the valuation date, but unpaid as of the valuation date.  Claim reserves include both reported and unreported claims.  Claim reserves are established for both accrued and unaccrued benefits.

(2)           "Valuation date" means the date, i.e., March 31, June 30, September 30, or December 31, at which reserves are estimated.

 

History Note:        Authority G.S. 58‑2‑40; 58‑67‑135(b);

Eff. February 1, 1995.