Document ID: chunk:federal_register_of_legislation:F2023L00723:front:0:p13
Version: federal_register_of_legislation:F2023L00723
Segment Type: other
Provision Reference: 
Character Range: 40008–42832

PL determined in accordance with HPS 340. This item is to be reported gross of any discounting, as all discounting is to be reported in discount on PL amount.
Private health insurer business type        This is either health insurance business or health-related insurance business.
Private health insurer fund type            This is either a health benefits fund or general fund.

R
RE Risk Charge                                                This is a derived item and is the Insurance Liability Risk Charge in respect of risk equalisation, which relates to the risk that the value of risk equalisation transfers are less favourable than the value determined in accordance with HPS 340. It is calculated as unbilled calculated deficit amount multiplied by the risk equalisation charge factor of 4%, as set out in HPS 115.
Reinsurance recoverables - OCL amount                         This is the value of reinsurance recoverables, being amounts due to the health benefits fund or general fund under a reinsurance arrangement, that arise from the recognition of the central estimate of the OCL. The value must be reported net of any provisions for doubtful debts and in accordance with HPS 340.  This item is to be reported gross of any discounting, as all discounting is to be reported in discount on OCL amount.
Risk equalisation component - OCL amount                      This is the value, as at the relevant date, of any amount estimated to be payable or receivable under the Risk Equalisation Special Account arising from claims incurred and included within the central estimate of OCL determined in accordance with HPS 340.  This item is to be reported gross of any discounting, as all discounting is to be reported in discount on OCL amount.
Risk equalisation component - PL amount                       This is the value, as at the relevant date, of any amount estimated to be payable or receivable under the Risk Equalisation Special Account arising from claims included within the central estimate of PL determined in accordance with HPS 340.  This item is to be reported gross of any discounting, as all discounting is to be reported in discount on PL amount.
Risk margin at 75th POA - OCL amount                          This is the value, as at the relevant date, of the risk margin component of OCL, net of recoveries, determined in accordance with HPS 340. The risk margin is that which has been applied to the Outstanding Claims Liabilities for HIB and HRIB, and may include diversification across the insurance portfolio within the health benefits fund or general fund.
Risk margin at 75th POA - PL amount                           This is the value, as at the relevant date, of the risk margin component of PL, net of recoveries, determined in accordance with HPS 340.  The risk margin is that which