Insurance
Medical Claims Inflation Reserve Top-Up
Increasing reserves to account for rising medical treatment costs mid-year.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Claims Expense — Medical Inflation Adjustment | Expense (+) | 35,000.00 | - |
| IBNR Reserve — Medical (Inflation) | Liability (+) | - | 35,000.00 |
💡 Accountant's Note
Medical inflation consistently exceeds general inflation. Actuaries increase IBNR and outstanding reserves during the year when observed inflation threatens to make existing reserves inadequate.
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