Transition of Self-Funded Policy to Runout Status

A self-funded policy can be transitioned to the Runout status from the user interface or through the Policy Periodic Monitor (C1-POLPR) batch. You can transition a self-funded policy to the Runout status by clicking the Runout button in the Policy screen. On clicking the Runout button, the system checks whether the To Do created for the In Force/Active status is completed. If the To Do created for the In Force/Active status is not completed, it completes the To Do and then changes the status of the self-funded policy from In Force/Active to Runout.

On executing the Policy Periodic Monitor (C1-POLPR) batch, the system does the following:

• If the self-funded policy is in the In Force/Active status and the policy end date - X days is earlier than or equal to the system date, it creates a To Do using the To Do type which is specified in the To Do Type for Active Status parameter (of an algorithm created using the C1-ASOPOLMOA algorithm type).

• If the end date of the self-funded policy is earlier than or equal to the system date and the To Do created using the To Do type specified in the To Do Type for Active Status parameter is completed, it changes the status of the self-funded policy from In Force/Active to Runout.

You can define pricing rules using the pricing rule types of the following categories for a self-funded policy of a bill group which is in the Runout status:

• Claim

• Specific Stop-Loss

• Aggregate Stop-Loss

• Retention Type Claim Based

• Ancillary

• Flat Fees

• Level Funded