From
Lisa Norris, Human Resources Director
Title
Insurance Fund Monthly/Quarterly Review
Presenter
Lisa Norris, Human Resources Director
Recommended Action
Review Only
Analysis
This analysis covers the experience in the Employee Insurance Fund through April 2017:
Employee Insurance Fund Summary (Attachment 1):
With April coming to a close, we remain in the black on a cumulative basis! April active claims reached $1,056,979 which is beneath both the fiscal year monthly average of $1,136,984 and the running 12-month average of $1,201,620. With that positive claims month, our year-end projection is at budget - $13.9 million. Retirees, on the other hand, had a high month in April reaching $285,737 which is above both of the monthly averages, yet still results in a projection at year-end beneath our budget by about 10%. Considering claims, our year-end projected operating balance is positive at $83,525 (column 14 in blue, row 40).
UHC Slides
As of April, we still only have 4 claimants that have exceeded $100,000 in claims paid so far this calendar year. On the last slide, our high claimants had a positive month with only a few hitting the light blue amounts of $1,000-$49,999 in claims for the month, and none of them exceeding $50,000 during April.
Financial Consideration
The current budget is approved and no financial consideration is necessary at this time until additional claims data based on future months can be reviewed.