Member month

Member month,

Definition of Member month:

  1. Member month statistics are most commonly found in the reports of group insurance companies, such as group health plans. Determining how many individuals are enrolled in an insurance plan requires dividing the total number of member months by the number of months in the year.

  2. Member month refers to the number of individuals participating in an insurance plan each month. Member month is calculated by taking the number of individuals enrolled in a plan and multiplying that sum by the number of months in the policy. Member months help insurance companies calculate the average monthly premiums needed to be charged to their customers.

  3. The amount of participants who are considered members each month.

How to use Member month in a sentence?

  1. Member months help insurance companies calculate the average monthly premiums needed to be charged to their customers.
  2. Member month is calculated by multiplying the total number of individuals enrolled in a plan by the number of months in the policy.
  3. Member month refers to the number of individuals participating in an insurance plan each month.
  4. One individual who has a policy that lasts one year creates twelve-member months (1 person x 12 months in the policy).

Meaning of Member month & Member month Definition