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Financial Sector (Collection of Data) (reporting standard) determination No. 98 of 2023
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Financial Sector (Collection of Data) (reporting standard) determination No. 98 of 2023
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Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 98 of 2023.
Tables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.
Any specific combination of values in a table must not appear on more than one row in that table when reported.
Terms highlighted in bold italics indicate that the definition is provided in these instructions.
C
| Capital base | Capital base is defined in Prudential Standard HPS 112 Determination of Capital Base. |
|---|---|
| Capital transfers in / out of the fund amount | This is the amount expected to be transferred to/from parent entity and to/from other health benefits funds or general funds per Reporting Standard HRS 101.0 Regulatory Income Statement – Supplementary Information (HRS 101.0). This excludes transfers to reserves and changes in accounting policies. |
| Central estimate | This is an estimate of the mean of the range of possible outcomes. The private health insurer must choose its own methodology, assumptions and data in order to determine the central estimates. |
F
| Future quarter | This is the central estimate forecasts provided for each of the next four quarters starting from the reporting date. |
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G
| General fund(Private Health Insurer Fund Type) | This refers to the portion of the insurer referred to as the general fund as defined in HPS 001. |
|---|---|
| Gross margin | As defined in HPS 001. |
| Gross margin forecast percent | This is the gross margin forecast for the 12-month period following the reporting date. |
| Gross margin target percent | The gross margin target percent is the target value of the gross margin.Insurers that use a range for their gross margin target should report the lower bound of the range for this Reporting Standard. |
H
| Health benefits fund(Private health insurer fund type) | Health benefits fund has the same meaning as in the Act. |
|---|---|
| Health insurance business (HIB) | Health insurance business (HIB) has the same meaning as in the Act. |
| Health insurance business policy forecasts type | Health insurance business policy forecasts types include:new HIB polices to PHI;new HIB policy transfers; andHIB terminated policies. |
| Health-related business (HRB) | Health-related business (HRB) has the same meaning as in the Act. |
| Health-related business non-insurance profit / loss amount | The central estimate forecast of health-related business non-insurance profit / loss for that future quarter.Health-related business non-insurance profit / loss means health-related business non-insurance revenue amount less the central estimate forecast expenses related to conducting HRB non-insurance. HRB non-insurance expenses are to be the forecast of other business expenses as defined in HRS 101.0, for the private health insurer business type of HRB – non-insurance. |
| Health-related business non-insurance revenue amount | The central estimate forecast revenue from HRB, excluding revenue related to health-related insurance business. |
| Health-related insurance business | As defined in HPS 001. |
| HIB terminated policies(Health Insurance Business Policy Forecasts Type) | This is a reported item and should equal the sum of:policies in force at start of quarter; andnew HIB policiesless:policies in force at end of quarter.Where possible, actuals are to be used as a start point when calculating terminated policies for the next quarter in the future. For subsequent quarters, forecasts for the start and end of that quarter are to be used. |
| Hospital category gross margin type | Hospital category gross margin types are:Gold;Silver +;Silver;Bronze +;Bronze;Basic +; andBasic. |
N
| New HIB policies to PHI(Health Insurance Business Policy Forecasts Type) | A new HIB policy which is not a new HIB policy transfer. |
|---|---|
| New HIB policy | Means a new HIB policy, in force at the end of the quarter, where none of the policy holders held a policy with the health insurer at the start of the quarter. |
| New HIB policy transfer(Health Insurance Business Policy Forecasts Type) | Means a new HIB policy where at least one policy holder of a policy would be expected to have a transfer certificate. |
P
| Policy forecasts average monthly premium amount | For new HIB policies to PHI, this is the average monthly premium rate for those policies at the points in the forecast quarter where they first become in force.For new HIB policy transfers, this is the average monthly premium rate for those policies where at least one policy holder of a policy would be expected to have a transfer certificate in the forecast quarter where they first become in force.For HIB terminated policies, this is the average monthly premium rate for those policies immediately before the points in the forecast quarter where they first stop being in force. |
|---|---|
| Policy forecasts count | For new HIB polices to PHI, this is the count of those policies to become in force in the forecast quarter.For new HIB policy transfers, this is the count of those policies where at least one policy holder of a policy would be expected to have a transfer certificate in the forecast quarter.For HIB terminated policies, this is the count of those policies stop being in force in the forecast quarter. |
| Prescribed Capital Amount | Prudential Capital Amount means the minimum amount of capital that an insurer must hold as defined in HPS 110. |
| Private health insurer business type | This is either health insurance business or health-related insurance business. |
| Private health insurer fund | This is either health benefits fund or general fund. |
T
| Target capital amount | The target capital amount is determined in accordance with the Internal Capital Adequacy Assessment Process. This is to be expressed as a target for the capital base of the health benefits fund or general fund.Insurers that use a range for its target capital should report the lower bound of the range for this reporting standard. |
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