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Please Note: Medical Necessity Prior Authorization may be overridden for both formulary coverage and benefit design restrictions. They are issued at the full discretion of the benefit manager. PRIOR
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Compounded refers to the process of calculating interest on the initial principal amount as well as the accumulated interest from previous periods.
Individuals or entities with financial transactions involving interest calculations may be required to file compounded.
To fill out compounded, one must accurately calculate the interest on the principal amount and any previous interest accrued.
The purpose of compounded is to accurately reflect the total amount owed or earned through interest calculations.
The information reported on compounded includes the principal amount, the interest rate, the compounding period, and the total amount after compounding.
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