Healthcare
IBNR (Incurred But Not Reported) Accrual
Estimating the cost of medical services that have been provided to employees but haven't been billed yet (Self-insured).
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Employee Benefit Expense | Expense (+) | 15,000.00 | - |
| IBNR Claim Liability | Liability (+) | - | 15,000.00 |
💡 Accountant's Note
For hospitals that self-insure their staff, they must estimate 'hidden' claims that are currently in the mail or still being coded at the clinic.
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