Claim Frequency Rate
In terms of health insurance calculations, the claim frequency rate is the anticipated percentage of insured that will make claims against the company and the number of claims they will make during a certain period of time. The claim frequency rate is used to calculate the estimated average cost of claims, which, in turn are used to establish premium rates.
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Common Compensation Terms and Formulas
- Includes the latest updates: Compensable factors, defined benefit plan, job leveling, lead differential, shift differential and more.
- Salary structure formulas and strategies