From
Lisa Norris, Human Resources Director
Title
Insurance Fund Monthly Review - Lisa Norris, Human Resources Director
Presenter
Lisa Norris, Human Resources Director
Recommended Action
Review Only
Analysis
This analysis covers the experience in the Employee Insurance Fund through November 2018:
Employee Insurance Fund (Attachment 1):
The insurance fund experienced another positive month for November 2018. Revenues remain fairly consistent and the only notable item thus far remains in active and retiree claims which fell beneath both the "FY Monthly Average" and the "Running 12-Month averages." Active claims (row 32) reached $958,541 for November and retirees hit $130,969. With two months under our belt for the fiscal year, initial projections show another positive year with the operating balance projected at $5,011,266 (row 41, blue column) by year-end. Per United Health Care, we have one claim that just passed the $400,000 mark and is currently at $414,000 paid for the Calendar Year. There are no other claims currently approaching that $400,000 mark. We will have a clearer picture once January rolls around and we work through the first quarter of the new plan year (ending in March 2019).
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.