Document ID: chunk:federal_register_of_legislation:F2023L00723:front:0:p14
Version: federal_register_of_legislation:F2023L00723
Segment Type: other
Provision Reference: 
Character Range: 42596–45638

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 has been applied to the Premium 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 – risk equalisation transfers amount  This is the value, as at the relevant date, of the risk margin component of risk equalisation transfers, determined in accordance with HPS 340.

S
Settled but not paid claims - OCL amount          This is the value, as at the relevant date, of unpaid claims amounts where the value has been determined. This includes claims that have been settled but not paid and included within the central estimate of OCL determined in accordance with HPS 340. These items should be disclosed as OCL instead of current liabilities or trade creditors. This item is to be reported gross of any discounting, as all discounting is to be reported in discount on OCL amount.
Single Equivalent Units (AES) count               This is the value of forecast Single Equivalent Units after the Adverse Event Stress, as defined in HPS 115, for that month.
Single Equivalent Units (CE) count                This is the central estimate forecast of Single Equivalent Units for that month.
Single Equivalent Units (fund) count              This is the value, at the health insurance business membership reporting period, of the SEUs for the health benefits fund.

                                                  The value of SEUs should be consistent with that calculated from the relevant HRS 601 return.
Single Equivalent Units (MA) count                The is to be reported for months 10, 11 and 12 only. This is to be determined by adjusting Single Equivalent Units (AES) count for management actions as defined in HPS 115.

                                                  Single Equivalent Units (MA) 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 Single Equivalent Units (AES) count.
Single equivalent units (SEUs)                    This refers to the relevant forecast of Single Equivalent Units as defined in HPS 001.
Single Equivalent Units (transferor funds) 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