Health care technical practice aids discuss insurance claims, recoveries

BY KEN TYSIAC

The AICPA Health Care Expert Panel has developed a series of technical practice aids related to the implementation of a 2010 FASB Accounting Standards Update (ASU) on insurance.

Technical Questions and Answers (TPA) 6400.49 to 6400.52 provide nonauthoritative guidance on the implementation of ASU No. 2010-24, Health Care Entities (Topic 954): Presentation of Insurance Claims and Related Insurance Recoveries.

The TPAs discuss:

  • What is meant by “similar contingent liabilities” within the scope of the ASU.
  • The accrual of legal costs associated with contingencies other than medical malpractice liabilities.
  • The presentation of insurance recoveries when the insurer pays claims directly.
  • Insurance recoveries from certain retrospectively rated insurance policies.


Ken Tysiac ( ktysiac@aicpa.org ) is a JofA senior editor.

RESOURCES

Keeping you informed and prepared amid the coronavirus outbreak

We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption.

VIDEO

Excel walk-through: Sparklines

Want to liven up your spreadsheets with some color and graphical elements? Kelly L. Williams, CPA, Ph.D., shows how to use Excel sparklines, which illustrate data trends and patterns via small charts that fit in a single Excel cell.