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).)
Sample 1Sample 2Sample 3
Experience Rated means a rating method in the large group market under which a health care service plan calculates the premiums for a large group in whole or blended based on the group’s prior experience.
Sample 1
Experience Rated means a rating method in the group market under which a health care service plan or health insurer calculates the premiums for a group in whole or blended based on the group’s prior experience. (Ibid.)
Sample 1

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. 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.
Sample 1
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.
Sample 1

Related to Experience Rated

  • Reference Rate means the rate specified as such hereon.

  • 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.

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

  • Prime Rate means the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. 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.

  • Base Rate means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the highest of:

  • 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.