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 fiscal year-end September 2017, and October 2017 in the new fiscal year:
Employee Insurance Fund Summary (Attachment 1):
Final adjustments were made to the 2016-2017 Employee Insurance Fund for fiscal year-end that we reviewed first as indicated in Council Agenda item 17-7439 to modify the Revenues, Expenditures and Ending Resource balance for Fiscal Year-End 2016-2017. The fund summary attached herein is the same as in that agenda item. This reflects us ending the year (blue column, 3) with active claims (row 24) reaching $15.5 million and retiree claims (row 25) reaching $3 million. Total Expenditures were $20,944,931 (row 45) which put us at an operting imbalance of $1.38 million (row 56).
For the fiscal year insurance fund budget (reflected in column 4, highlighted in green), you will note active claims are budgeted lower at $14,791,717, but this is primarily due to expected lower claims that we should begin to see from February 2018 and on once the new plan year starts and the prescription network is tightened, non-network Emergency Room is now only paid at 110% of Medicare, Non-Network lab/x-ray are tightened, and our plans reduced from 3 to 2 plan options, with one being an HSA. We did expect retiree claims to continue to grow which is why that amount is larger. We usually have a net change of about 21 retirees (more) each year.
Our efforts in wellness continue to promote SurgeryPlus, Compass Concierge services, Doctor on Demand virtual visits and Airrosti for treatment of medical soft tissue injuries. Annual enrollment has ended and final headcounts of our active employees should be available by this meeting, but are not currently loaded yet in production for me to pull to include in...
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