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Friday, May 18, 2012

The Annual and Quarterly Statements for Health Insurance Accounting

The Annual and Quarterly Statements are the primary financial reports required by
state insurance departments and similar governmental jurisdictions (such as the
District of Columbia, the Virgin Islands, and Puerto Rico) for health companies. The
format of the Statement and the rules to be followed in preparing it are established by
the NAIC. The Annual Statement, often called “Statement” or “Blank,” consists of
the following:
• Title page and jurat
• Balance sheet (assets, liabilities, and surplus)
• Statement of income
• Statement of capital and surplus
• Statement of cash flow
• Underwriting and investment exhibits
• Various exhibits of data which support other parts of the statement
• Notes to financial statements
• Summary investment schedule
• General interrogatories
• Five year historical data
• Numerous schedules, supplemental schedules and exhibits
The Statement also includes a report of premiums, enrollment, and utilization to
policyholders for each state in which the Statement is filed. An illustrative 2007
Annual Statement appears as Appendix A.
Although similar in format to the Annual Statement, the Quarterly Statement omits
many of the exhibits and schedules. It presents information on a year-to-date basis.

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