IBNR definition

IBNR means unpaid health claims incurred but not reported. The liability for IBNR claims is actuarially estimated based on the most current historical claims experience of previous payments, inflation, award trends, and estimates of health care trend changes.

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IBNR means incurred but not reported reserves. It includes a reserve for claims that have been incurred, but not yet reported to the individual own risk employer or group self-insurance association, as applicable, and reserves for adverse loss development on known claims.

IBNR means incurred but not reported reserves. It includes a reserve for claims that have been incurred, but not yet reported to the individual own risk employer or group self-insurance association, as applicable, and reserves for adverse loss development on known claims. "Incurred loss" means the total of the paid indemnity and medical losses plus claims reserves, reported by accident year.

Examples of IBNR in a sentence

• Any portion of the deficit remaining in excess of the CFR and IBNR will be the responsibility of the board.

• For the Administrative Services Only plans (ASO), a surplus (including any deposits on hand) that is equal to or less than 15% of the Boards’ annual benefit cost will be deemed to be a CFR and IBNR and will be retained by the applicable Boards upon its release by the carriers.

• For the Administrative Services Only plans (ASO), a surplus (including any deposits on hand) that is equal to or less than 15% of the Board’s annual benefit cost will be deemed to be a CFR and IBNR and will be retained by the applicable Board upon its release by the carriers.

• Where applicable, Boards with deficits in their benefit plans will first recover the deficit through the CFR and IBNR.

• Additionally, annual audits shall include an annual actuarial opinion of the Contractor’s incurred but not received claims (IBNR) specific to the Hoosier Healthwise program.

More Definitions of IBNR

IBNR means subjective reserves established for incurred but not reported claims, within a range proposed by an independent actuary, as determined by the Board of the Group in the Board’s reasonable discretion.

IBNR means incurred but not reported;

IBNR means estimated claims for Healthcare Services provided by the Company, which claims have been incurred but not reported.

IBNR has the meaning set forth in the definition for the term Loss Reserves.

IBNR means reserves for claims incurred but not reported.

IBNR means Incurred But Not Reported reserves and has the meaning ascribed thereto by clause 14(1);

IBNR means incurred but not reported claims.