A model that applies forward rates to an existing term structure of interest rates to determine appropriate prices for securities that are sensitive to changes in interest rates. |||The HJM model is very theoretical and is used at the most advanced levels of financial analysis. It is used mainly by arbitrageurs seeking arbitrage opportunities.
A legal form that allows an individual to empower another with decisions regarding his or her healthcare and medical treatment. Healthcare power of attorney becomes active when a person is unable to make decisions or consciously communicate intentions regarding treatments. |||The healthcare power of attorney allows people who become unable to make their own decisions to exercise their beliefs and wishes regarding medical procedures. The person's agent can communicate on behalf of the sick or injured person, preventing unwanted treatment. The process of denoting an HCPA is fairly straightforward, and the privilege can be revoked at any time.
An account created for individuals who are covered under high-deductible health plans (HDHPs) to save for medical expenses that HDHPs do not cover. Contributions are made into the account by the individual or the individual's employer and are limited to a maximum amount each year. The contributions are invested over time and can be used to pay for qualified medical expenses, which include most medical care such as dental, vision and over-the-counter drugs. |||The HSA account has three major tax savings: the money contributed into the account is tax deductible, it grows tax free, and certain withdrawals are tax free if they are for qualified medical expenses. To qualify for an HSA account, you must have coverage from a high-deductible health plan and you must not be enrolled in Medicare or be listed as a dependent on another person's tax return.
Employer-funded plans that reimburse employees for incurred medical expenses that are not covered by the company's standard insurance plan. Because the employer funds the plan, any distributions are considered tax deductible (to the employer). Reimbursement dollars received by the employee are generally tax free. The downside to HRAs is that companies may choose whether to start or fund such a plan. Also, if a plan has already been established, the employer has the right to cancel it at virtually any time. |||As a benefit, an employee may be reimbursed for qualified medical expenses from his or her employer. The funds received are tax-free, but because the plan is employer funded, the employer has the right to cancel or alter the distributions at any time. In spite of this, many employees consider HRAs as a valuable benefit given the rising cost of health care.
A type of Federal Housing Administration (FHA) insured reverse mortgage. Home Equity Conversion Mortgages allow seniors to convert the equity in their home to cash. The amount that may be borrowed is based on the appraised value of the home (subject to FHA limits), and the age of the borrower (borrowers must be at least 62 years old). Money is advanced against the value of the home. Interest accrues on the outstanding loan balance, but no payments must be made until the home is sold or the borrower(s) die, at which point the mortgage must be repaid entirely. Because the home secures the mortgage, no credit check is made on the borrower. |||Privately sponsored reverse mortgages might allow for higher borrowing amounts, and have lower costs than HECMs, but HECMs typically have a lower interest rate. The economics of a HECM versus a privately sponsored reverse mortgage will depend on how long the borrower expects to live or own the home. Since the FHA insures HECM loans, the borrower will not owe more than value of the loan in the event that the loan exceeds the value of the home's equity. A home equity loan is an alternative to a reverse mortgage, however, unlike a reverse mortgage, a home equity loan will require a credit check. Additionally, a home equity loan will most likely have substantially lower costs than a HECM, but a higher interest rate.
A bank loan to a highly leveraged company. HLTs can be thought of as similar to junk bonds as they both face default risk, but HLTs are more secure and have stronger debt covenants due to their structure.HLT guidelines are set out by the U.S. Office of the Comptroller of Currency, the Federal Reserve Board and the Federal Deposit Insurance Corporation. |||For a loan to be classified as an HLT it must meet the following guidelines: · loan financing used for buyouts, acquisitions and recapitalizations.· loan financing which doubles the borrower's liabilities and results in a leverage ratio greater than 50% or increase the leverage ratio higher than 75%.· loan financing designated as an HLT by the syndication agent.· loan financing to subsidiaries of highly leveraged companies, even if the subsidiary does not meet the other HLT definitions.
In accounting, an inventory distribution method in which the inventory with the highest cost of purchase is the first to be used or taken out of stock. This will impact the company's books such that for any given period of time, the inventory expense will be the highest possible. |||Companies would likely choose to use the HIFO inventory method if they wanted to decrease their taxable income for a period of time. Because the inventory that is recorded as used up is always the most expensive inventory the company has (regardless of when the inventory was purchased), the company will always be recording maximum cost of goods sold.Contrast this with other inventory recognition methods such as last in, first out (LIFO), in which the most recently purchased inventory is recorded as used first, or first in, first out (FIFO), in which the oldest inventory is recorded as used first. Companies may occasionally change their inventory methods in order to smooth their financial performance.
A health insurance plan that has a high minimum deductible, which does not cover the initial costs or all of the costs of medical expenses. The deductible forces the insurance holder to pay the first portion of a medical expense before the insurance coverage kicks in. The minimum deductible for a plan to fall into the category of an HDHP varies each year. In 2006, it was more than $1,000 for individuals and $2,000 for families. |||These health plans became more common when the new health savings account (HSA) legislation was signed into law in 2003. In order to open an HSA account, an individual must first have an HDHP. These high-deductible health plans are thought to lower overall healthcare costs by forcing individuals to be more conscious of medical expenses. The higher deductible also lowers insurance premiums, making health coverage more affordable.
登录
工商服务
危机公关
金融律师
app开发
财税服务
金融牌照
网站建设
知识产权
企业征信
审计评估