Unpaid claim liability

[EricaM-MOIC]

The current entries recorded in paying claims on our Health Company are as follows:
When claim payment (using check/ACH/Virtual credit card) is issued:
Debit: Claims Expense
Credit: Claims Unpaid Liability (should this be cash?)

When check/virtual credit card is cashed or presented for payment:
Debit: Claims Unpaid Liability
Credit: Cash

Is it correct to report this Unpaid Claim Liability on Page 3, Line 1 of the Health Statement even though payment has already been issued? Is a virtual credit card treated as a check?

Thank you!

[BarryW]

I think you should look at paragraphs 8-10 of SSAP 2R as well as paragraphs 4,5,7-9 of SSAP 55 and see how this guidance applies to your situation. It seems like you currently are treating these like drafts as described in SSAP 2R.