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County reports $90,000 drug-rebate deposit and improving health-insurance trend
Summary
County finance staff told commissioners the county received a drug rebate of about $90,000 this month and that reserves have improved; officials said better stop-loss experience could yield improved insurance-market interest during upcoming renewals.
County finance staff reported improved fiscal results for the month, driven in part by a drug-rebate deposit of about $90,000. Jim (county official) told commissioners the rebate will increase the county's account balance by roughly $400,000 once posted and said the county now has the equivalent of several months of reserves.
Jim said the county now receives quarterly drug rebates it did not receive previously and that better claims experience this year could reduce the county's stop-loss exposure. He said that historically the county hit stop-loss limits several times, which hurt the consultant's ability to market the insurance product. If claims remain lower, staff said the county could get better renewal quotes from insurers.
Commissioners asked for data about how many people used the benefits this year; Jim said specific utilization numbers would be provided at a future meeting when the consultant and other staff return. Jim also noted that quarterly rebates typically average in the $280,000 range historically and that the current deposit will be accounted for at the start of the next month.
No formal budget action was taken at the meeting. Commissioners set a work session schedule for a per-diem policy discussion and other administrative items.
