IBNP Expense Sample Clauses
The IBNP Expense clause defines how expenses related to Incurred But Not Paid (IBNP) claims are handled within an agreement. It typically outlines the method for calculating and allocating costs associated with claims that have been incurred but not yet settled or paid, often specifying the types of expenses included and the timing of their recognition. This clause ensures that both parties understand their financial responsibilities regarding outstanding claims, thereby promoting accurate accounting and preventing disputes over unpaid liabilities.
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IBNP Expense. IBNP Expense shall mean all provider liabilities that are incurred but not paid (IBNP) for PacifiCare Members. Medical Group’s IBNP liabilities shall include estimated provider claims that have been incurred but not paid and provider capitation for periods where PacifiCare has paid capitation to Medical Group, but Medical Group has not paid capitation to its capitated Participating Providers.