Plastic surgery performed to improve physical function and lessen disfigurement from an accident or injury, birth defect, burn, or disease. Difference between reconstructive surgery and cosmetic surgery is that the latter is considered elective and done for aesthetic reasons. See cosmetic surgery .
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Record card
See: register.
Record of payments
Record of amount and frequency of contributions made through the employer’s payroll to a personal pension provider. It must show: deductions from pay; the employer’s contribution; and the date by which contributions must be received by the provider. The due date for employee contributions must be no later than the 19th of the month following deduction. Providers not in receipt of contributions within 30 days of due must inform Opra.
Recording agent (Property Insurance)
A term used for an agent who writes property insurance policies. This term is usually only used in the property insurance business.
Records retention
Keeping medical records based on state and/or federal statutes. The federal minimum for records retention is at least 6 years after the patient is last seen. Each state has different laws but usually mandate longer than 6 years. State law has more authority than federal statutes. The American Health Information Management Association (AHIMA) recommends retaining medical records for 10 years after the date the patient was last seen regardless of whether the state regulation says 7 to 10 years. Records of children must be kept a certain amount of time after the patient becomes an adult, which can be anywhere from age 18 to 21 depending on the state law.
Recoupment
Recovery by Medicare of any Medicare debt by reducing present or future Medicare payments and applying the amount withheld to the indebtedness.
Recourse Indemnity
Indemnity to an exporter against the risk of a buyer failing to pay for plant and equipment on the ground of alleged failure or defects and to a lender against the risk of an exporter’s insolvency.
Recourse indemnity/ECGD recourse indemnity obligation insurance
A policy that responds when an ECGDbacked buyer credit loan agreement coincides with a supplier default on the connected export contract. In the absence of insurance, the ECGD’s right of recourse would cause the loss to fall on the exporter.
Recoverable to Policy Holder Funds
Measures a company’s dependence upon its reinsurers and the potential exposures to adjustments on such reinsurance. Its determined from the total coded reinsurance recoverable due for paid losses, unpaid losses, losses incurred by not reported (IBNR), unearned premiums and commissions less funds held from reinsurers expressed as a percent of policyholder surplus.
Recoveries
Amounts the insurer can recoup after paying for a loss. It may be the result of: sale of salvage; exercise of subrogation rights; or reinsurance recovery.