Best estimate definition

Best estimate means that income is calculated for the upcoming certification period based on current information about income being received, expected income deductions, and household size.
Best estimate means an income, expense, or circumstance prediction based on past amounts of income and expenses and known factual information concerning future circumstances which affect eligibility, expenses to be incurred; or income to be received in the benefit month. Factual information concerning future circumstances must be based on information by which the applicant or recipient demonstrates known changes or highly probable changes to the income, expenses, or circumstances which offset eligibility, from the base month to the benefit month.

Examples of Best estimate in a sentence

  • In addition, the following definitions apply throughout this rule:(1) "Avenue H" means Utah's Health Insurance Marketplace for Utah employers and their employees where the employees can find information about available employer-sponsored health insurance plans, select a plan and enroll online.(2) "Best estimate" means the eligibility agency's determination of a household's income for the upcoming certification period based on past and current circumstances and anticipated future changes.

  • The new constraints on the p-factor, p = αlog(P) + β Best estimate: p=1.550-0.186 log(P) Comparison of distances from HST parallaxes (Benedict et al.

More Definitions of Best estimate

Best estimate means the best estimate of the quantity that will actually be recovered. It is equally likely that the actual remaining quantities recovered will be greater or less than the best estimate. If probabilistic methods are used, there should be at least a 50% probability (P50) that the quantities actually recovered will equal or exceed the best estimate;
Best estimate has the meaning set out in Clause 3.3.1;
Best estimate means at least a 50% probability (P50) that the quantities actually recovered will equal or exceed the best estimate;
Best estimate means the value derived by an evaluator using deterministic methods that best represents the expected outcome with no optimism or conservatism. When
Best estimate means a value that reflects anticipated experience with no provision for risk of adverse deviation; and
Best estimate means there is a 50% chance that the estimated quantity will be equalled or exceeded.
Best estimate has the meaning given in paragraph 1 of Schedule 5;