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 2018:
Employee Insurance Fund (Attachment 1):
August, while it appears high on the surface because it included 5 weeks of claims instead of 4, was actually a good claims month. Active claims (row 32) reached $1,148,342 which reflects higher than both the Fiscal Year Monthly Claim Average (column 14) of $1,053,088 and the Running 12-month Claim Average (column 15) of $1,052,490. While they appear high, the weekly average of $229,668 for the 5 week period was beneath that in June of $269,400 (for perspective). Factoring in this month, claims are expected to reach about $12,637,058 by year-end which is only 87% of the budgeted amount. Retirees reached $223,621 in August, falling beneath both the fiscal year and running 12-month averages, and continue to trend well beneath the budgeted amount. The year continues to trend well, with an expected operating balance of $4,431,499 (column 19, row 41) at fiscal year-end.
Attachment 2 (UHC Slides): We have new UHC slides this period based my request for a "fresh look and more meaningful data", and our new UHC Account Executive's recommendation..I like them! I think it gives us a better glimpse of our trends in specific areas that can impact our costs. Slide 1 of the UHC attachment shows our demographics in the first row, Financials in the second row and Utilization trends in the bottom row. Green represents improvements from the prior period, red show worsened areas, and grey is limited change. The large numbers in the header row reflect reflect the current period from January 1 - August 31, 2018. Under each large number are numbers from the prior period (same period of time from 2017). Slides 2 and 3 address large claimants.
Financial Con...
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