Experience Rated definition

Experience Rated means a rating method in the large group market under which a health care service plan or insurer calculates the premiums for a large group in whole or blended based on the group’s prior experience. (H&SC § 1385.01(a)(3) & CIC § 10181(a)(3).)
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Experience Rated means a rating method in the large group market under which a health insurer calculates the premiums for a large group in whole or blended based on the group’s prior experience.
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Experience Rated also called “merit rated,” means that rates are based on the claims experience of the particular insured. In Vermont, all large employer groups are experi- ence rated— each large employer group has distinct rates determined on the basis of that employer group’s claims experience.
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Examples of Experience Rated in a sentence

  • Experience Rated groups: Principal Members and dependents will be included without underwriting (i) as per the date the effective date for new enrollment, or (ii) upon renewal date, thirty (30) days after the Member Enrollment Form for Group Health Insurance is received for late enrollment.

  • For the Plan Years for which “M” depended on the returns of designated retired life reserve assets, the earnings rate on retired life reserve assets was to be determined by an actuary, using the “investment year block” method of crediting interest that First Allmerica used to credit interest on its Experience Rated group annuity contracts that were in force on an active basis.

  • For the Plan Years for which “M” depended on the returns of designated retired life reserve assets, the earnings rate on retired life reserve assets was to be determined by an actuary, using the “investment year block” method of crediting interest that First Allmerica used to credit interest on its Experience Rated group annuity contracts that are in force on an active basis.

  • This value was taken from the Experience Rated Addendum which MVP has attached in SERFF for reference.

  • Experience Rated Employer Contribution RatesExperience rating helps ensure an equitable distribution of costs of the unemployment compensation program among employers.

  • The District incurs costs related to the Orleans-Niagara Experience Rated Health Insurance Group Plan (Plan) sponsored by the Orleans-Niagara Board of Cooperative Educational Services and its component districts.

  • Experience Rated Employer: Those employers with sufficient time in the Unemployment Insurance program to be eligible for a tax rate based on their experience with the Unemployment Insurance Program.

  • For these products, interest related gains (losses) are offset by a corresponding increase/decrease to an Experience Rated Reserve ("ERR”).

  • This value was taken from the Experience Rated Addendum which MVP has attached in SERFF for reference.When the 3Q/4Q 2015 Large Group rate filing was submitted, MVP analyzed its most current information for the VT Vaccine Assessment.

  • Provide for resident isolation, loneliness, and decrease in physical activity.


More Definitions of Experience Rated

Experience Rated also called “merit rated,” means that rates are based on the claims experience of the particular insured person or group. In Vermont, all large employer groups are experience rated meaning that each large employer group has a distinct rate determined on the basis of that group’s claims experience.
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Related to Experience Rated

  • Reference Rate means the rate specified as such hereon.

  • How We Will Calculate Your Balance We use a method called "average daily balance (including new transactions)." See your Credit Card Agreement for more details.

  • Reference Rate Determination Date means, in relation to any Reference Rate Business Day(i):

  • Three-Month Secondary CD Rate means, for any day, the secondary market rate for three-month certificates of deposit reported as being in effect on such day (or, if such day is not a Business Day, the next preceding Business Day) by the Board through the public information telephone line of the Federal Reserve Bank of New York (which rate will, under the current practices of the Board, be published in Federal Reserve Statistical Release H.15(519) during the week following such day) or, if such rate is not so reported on such day or such next preceding Business Day, the average of the secondary market quotations for three-month certificates of deposit of major money center banks in New York City received at approximately 10:00 a.m., New York City time, on such day (or, if such day is not a Business Day, on the next preceding Business Day) by the Administrative Agent from three negotiable certificate of deposit dealers of recognized standing selected by it.

  • SONIA Reference Rate means, in respect of any London Banking Day, a reference rate equal to the daily Sterling Overnight Index Average ("SONIA") rate for such London Banking Day as provided by the administrator of SONIA to authorised distributors and as then published on the Relevant Screen Page (or if the Relevant Screen Page is unavailable, as otherwise is published by such authorised distributors) on the London Banking Day immediately following such London Banking Day; and

  • Expected week of childbirth means the week, starting on a Sunday, during which the mother's doctor or midwife expects her to give birth.

  • Vapor balance system means a combination of pipes or hoses which create a closed system between the vapor spaces of an unloading tank and a receiving tank such that vapors displaced from the receiving tank are transferred to the tank being unloaded.

  • Prime Rate means the rate of interest per annum publicly announced from time to time by JPMCB as its prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective.

  • Adjusted Base Rate means the Base Rate plus the Applicable Percentage.

  • Original Benchmark Rate on any day means the 3-months Euro Interbank Offered Rate (expressed as a percentage rate per annum) fixed at, and appearing on, the Screen Page as of 11:00 a.m. (Brussels time) on such day.

  • Base Rate means, for any day, the rate per annum equal to the higher of (a) the Federal Funds Rate for such day plus one-half of one percent (0.5%) and (b) the Prime Rate for such day. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Rate shall be effective on the effective date of such change in the Prime Rate or Federal Funds Rate.

  • Capitation rate means the fee the department pays monthly to a participating health or dental plan for each enrollee for the provision of covered medical or dental services whether or not the enrollee received services during the month for which the fee is intended.

  • Original Reference Rate means the originally-specified benchmark or screen rate (as applicable) used to determine the Rate of Interest (or any component part thereof) on the Notes.

  • Straight-time rate means the hourly rate of remuneration.

  • SOFR Rate means the rate that will be calculated by the Calculation Agent for each Accrual Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except as provided below following a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, shall mean, with respect to the Class A-2b Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.

  • U.S. Prime Rate means the rate announced publicly by US Reference Bank from time to time as its prime rate in effect for US Dollar denominated commercial loans, whether or not such announced rate is the best rate available at such bank.

  • LIBOR Base Rate means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.

  • Prime Rate of Interest means that rate of interest designated as such by Fleet National Bank of Connecticut, N.A., or any successor thereto, as the same may from time to time fluctuate.