Document ID: chunk:federal_register_of_legislation:F2023L00723:front:0:p15
Version: federal_register_of_legislation:F2023L00723
Segment Type: other
Provision Reference: 
Character Range: 45330–48834

count  This is the value, at the health insurance business membership reporting period, of the SEUs for all health benefits funds which have since transferred into the health benefits fund.

                                                  That is, where another health benefits fund/s has been transferred into this health benefits fund, the Single Equivalent Units (transferor funds) count is the total SEUs from all transferor health benefits funds at the relevant period. This may include from before the transfer took place.

                                                  For example, where fund A has been transferred into the reporting health benefits fund by the end of the reporting period, the SEUs of fund A should be reported for previous health insurance business membership reporting periods.

                                                  For periods after the transfer has occurred, the value for the transferor/s Single Equivalent Units (transferor funds) count is to be reported as zero.
State levies                                      State levies are all state ambulance levies payable by the health benefits fund.
State levies (AES) amount                         This is the forecast of state levies after the Adverse Event Stress, as defined in HPS 115, for that month.
State levies (CE) amount                          This is the central estimate forecast of state levies for that month.
State levies (MA) amount                          The insurer is required to report this item for months 10, 11 and 12 only. This is to be determined by adjusting the state levies amount for management actions as defined in HPS 115.

                                                  State levies (MA) amount must only reflect management actions that are appropriate and justified and comply with HPS 115. Management actions should reflect the insurer's expectations and not be limited to the extent that these result in an insurance profit. This constraint will be applied separately in insurance profits forecast after management actions amount.

                                                  For months 1 to 9 inclusive this is a derived item and is equal to state levies (pre-MA) amount.
State levies (pre-MA) amount                      This is a derived item, which provides an approximation of state levies, following the Prescribed Benefit Stress to benefits incurred and management expenses in accordance with HPS 115. This derived item provides a basis from which management actions can be taken in determining state levies (MA) amount.

                                                  State levies (pre-MA) amount is calculated as:

                                                    *

                                                  Where:
                                                  A equals State Levies (AES) amount
                                                  B equals HIB stress %

U
Unbilled calculated deficit amount  Unbilled calculated deficit means the central estimate of the total amount that would have been payable by the insurer should each SEU been entitled to the average amount as defined in rule 11(1)(e) of the Private Health Insurance (Risk Equalisation Policy) Rules 2015 or its replacement, and under the following conditions:
                                         * over the period up to the reporting date;
                                         * where the risk equalisation levy has accrued but has not yet