Incurred But Not Received
Incurred but not reported. An insurer's estimate of costs associated with claims that have not yet been submitted for payment, based on studies of prior lags in claim submissions. Used to set claim reserves.
Incurred But Not Reported. The actuarial estimate of reserves required to pay ultimate net losses (UNL) after netting out existing reserves on reported but unpaid claims (case reserves). This estimate includes an allowance for potential changes in such existing reserves for claims that have already occurred but yet to be reported.
Incurred But Not Reported. Claims: Claims associated with services already provided but not yet submitted to a payer.
Incurred But Not Reported. The actuarial estimate of amounts required to pay ultimate net losses after netting out existing amounts on reported but unpaid claims. The IBNR estimate includes an allowance for potential changes in such existing amounts as well as additional amounts for claims that have already occurred but are yet to be reported.
INCURRED BUT NOT REPORTED. A term applied to claims wherein the service has been provided by the health professional (incurred) but has not yet been processed and paid. This amount is also referred to as the RESERVE.
Incurred But Not Reported claims are those which have been incurred by the insured but have not been submitted to the plan or insurance company for reimbursement (also known as lagged claims).
Incurred But Not Reported. A reserve for claims that have been incurred but not yet been submitted for payment. This is the reserve intended to cover claim run-out upon termination of the program.
Stands for "incurred but not reported," meaning claims for which the insured has become liable but has not been submitted to the plan or insurance company for reimbursement (also known as lagged claims).
Incurred But Not Reported. The liability for future payments on losses that have already occurred, but have not yet been reported, either to the reinsured or to the reinsurer. Under some reinsurance contracts, this definition may be extended to include expected future development of claims already reported.
See: Incurred but not Reported.
Incurred But Not Reported. Refers to claims which reflect services already delivered, but, for whatever reason, have not yet been reimbursed. These are bills "in the pipeline." This is a crucial concept for proactive providers who are beginning to explore arrangements that put them in the role of adjudicating claims--as the result, perhaps, of operating in a sub-capitated system (see below). Failure to account for these potential claims could lead to some very bad decisions. Good administrative operations have fairly sophisticated mathematical models to estimate this amount at any given time.
IBNR is a term in common use in general insurance. It stands for Incurred But Not Reported.