From
Lisa Norris, Human Resources Director
Title
Insurance Fund Monthly Review
Presenter
Lisa Norris, Human Resources Director
Recommended Action
Review Only
Analysis
This analysis covers the experience in the Employee Insurance Fund through August 2017:
Employee Insurance Fund Summary (Attachment 1):
As we enter the home stretch to end this fiscal year, the insurance fund continues to bleed red, with August claims reaching $1,436,869. We now have eleven months of claims under our belt, and continue to project year-end active claims to reach $15.58 million (blue column, row 29) and $3.04 million in retiree claims. This moves our year-end operating imbalance further in the red to -$1,493,891. We have submitted a budget reallocation early in the year to increase appropriations from $19,102,992 to $19,784,155, and then subsequently a second reallocation to increase expenditures to $20,669,560, I expect a third modification to be needed as we project expenditures to end around $21.1 million.
Our efforts right now remain on educating employees and retirees about the plan changes, costs and best ways to use the benefits most efficiently by continuing to promote SurgeryPlus, Compass Concierge services, Doctor on Demand virtual visits and Airrosti for treatment of medical soft tissue injuries. Annual enrollment begins in late October and ends mid November. Once enrollment is complete, we will provide an updated report in December to you all on the headcounts for enrolled under the new plans.
Unfortunately, I have not had an opportunity to pull the UHC slides with so much time and energy focused on the enrollment, benefits changes and employee communication pieces, and retiree insurance communication, along with being short-staffed. However, I will follow up and forward those slides to you on the high claimants once received and validated. I may have them in time for the actual meeting, but apologize for my delay in getting that to you.
F...
Click here for full text