Document ID: chunk:federal_register_of_legislation:F2023L00723:front:0:p10
Version: federal_register_of_legislation:F2023L00723
Segment Type: other
Provision Reference: 
Character Range: 29946–34011

type)

Health insurance business membership reporting period     Health insurance business membership is the hospital treatment SEUs as at the relevant date for each health benefits fund. The applicable options are:
                                                                * as at the current reporting date;
                                                                * one year prior to the reporting date;
                                                                * two years prior to the reporting date; and
                                                                * three years prior to the reporting date.
Health-related insurance business (HRIB)                  This is as defined in HPS 001.

(Private health insurer   business type)
(Class of business)
Health-related insurance business accrued premium amount  This is the value of accrued premium for health-related insurance business for the 12 months up to the reporting date.
HIB stress %                                              This is the health insurance business stress, as a percentage, determined in accordance with HPS 115.

Hospital treatment                                        Hospital treatment has the same meaning as in the PHI Act.
(Class of business)
HRIB stress %                                             This is the health-related insurance business stress, as a percentage, determined in accordance with HPS 115.

 I
Individual other insurance liability at 75th POA amount     This is the value of each other insurance liability, as defined by HPS340.
Individual other insurance liability at 99.5th POA amount   This is the value of each other insurance liability, as defined by HPS340, valued at a 99.5 per cent level of sufficiency, in accordance with HPS 115.
Individual other insurance liability description            This is the name of the each other insurance liability as defined by HPS340. This name will be used to identify the liability and should reflect its nature and the reason the liability has arisen.
Insurance Liability Risk Charge                             This is a derived item and is calculated as the sum of:
                                                                 * OCL Risk Charge;
                                                                 * PL Risk Charge;
                                                                 * RE Risk Charge; and
                                                                 * Other Insurance Liabilities Risk Charge.
Insurance profits forecast after management actions amount  This is the private health insurer's estimate of insurance profits forecast after management actions amount. This will be deducted from the sum of net margin (MA) amount. This reflects the constraint outlined in HPS 115, that any insurance profits forecast after management actions cannot offset prior losses.

                                                            The insurance profit offset to be reported is to be determined as:

                                                              *

                                                            Where:

                                                            A equals The sum of net margin (MA) amount for the months including and after management actions take effect.

                                                            Insurance profits forecast after management actions amount is to be reported separately for HIB and HRIB.
Insurance Risk Charge                                       This is a derived item and is calculated as the sum of:
                                                                 * Insurance Liability Risk Charge;
                                                                 * Future Exposure Risk Charge; and
                                                                 * DCL Risk Charge

M
Management expenses                  This refers to the relevant forecast of management expenses as defined in HPS 001.
Management expenses (AES) amount     This is the