Reference book using a five-digit numerical system to identify codes and describe medical, surgical, and diagnostic procedures and services established, maintained, and copyrighted by the American Medical Association. It has been selected for use under the Health Insurance Portability and Accountability Act (HIPAA) for noninstitutional and nondental professional transactions. This code system is used by physicians and outpatient facilities to identify the type and level of service given to each patient when submitting insurance claims to insurance companies for payment. In the Medicare program, this system is referred to as Level 1 codes .
Tag: RAW
Current Ratio
The ratio of current assets to current liabilities. Bond underwriters like this ratio to be 2 to 1 on the balance sheets of contractors for whom they are considering Contract Bonds.
Current Resale Value
The selling price of property.
Current Risks
Insurances in effect at any given time.
Current settlement option rates
These rates reflect the interest rates currently earned by the insurance company.
Current unit method
An accrued benefits valuation method in which the actuarial liability is based on earnings at the valuation date. The standard contribution rate is that necessary to cover the cost of benefits that will accrue in the control period following the valuation date by reference to earnings projected to the end of that period and non-discretionary revaluation thereafter.
Current year
Present insurance plan contract year.
Currently insured status
Under Old Age, Survivors, and Disability Health Insurance, this is a status with less requirements to obtain than a status of fully insured. This status also allows the insured’s dependents to survivor benefits in the case of the insured’s death.
Curriculum vitae
Summary or résumé that documents an individual’s credentials, education, work experience, special accomplishments, and professional activities.
Curtailment
Amendment to a pension plan that reduces the plan’s benefits or employer’s contributions. Curtailment types include a reduction of expected years of future service of present employees and elimination of accrual of defined benefits for future services of a large number of employees.
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UK: Cover under travel insurances to compensate for the curtailment of the trip due to specified causes (e.g. injury to the policyholder or close relative).