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Section 1792.8 Of Article 6. Reporting And Reserve Requirements From California Health And Safety Code >> Division 2. >> Chapter 10. >> Article 6.
1792.8
. (a) For purposes of this article, "actuarial study" means
an analysis that addresses the current actuarial financial condition
of a provider that is performed by an actuary in accordance with
accepted actuarial principles and the standards of practice adopted
by the Actuarial Standards Board. An actuarial study shall include
all of the following:
(1) An actuarial report.
(2) A statement of actuarial opinion.
(3) An actuarial balance sheet.
(4) A cohort pricing analysis.
(5) A cashflow projection.
(6) A description of the actuarial methodology, formulae, and assumptions.
(b) "Actuary" means a member in good standing of the American Academy of Actuaries who is qualified to sign a statement of actuarial opinion.
(c) "Type A contract" means a continuing care contract that has an up-front entrance fee and includes provision for housing, residential services, amenities, and unlimited specific health-related services with little or no substantial increases in monthly charges, except for normal operating costs and inflation adjustments.
(1) An actuarial report.
(2) A statement of actuarial opinion.
(3) An actuarial balance sheet.
(4) A cohort pricing analysis.
(5) A cashflow projection.
(6) A description of the actuarial methodology, formulae, and assumptions.
(b) "Actuary" means a member in good standing of the American Academy of Actuaries who is qualified to sign a statement of actuarial opinion.
(c) "Type A contract" means a continuing care contract that has an up-front entrance fee and includes provision for housing, residential services, amenities, and unlimited specific health-related services with little or no substantial increases in monthly charges, except for normal operating costs and inflation adjustments.
