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Adams County told health insurance costs rose 22% after a 307% loss ratio in past year
Summary
County insurance broker Greg Parker told the Adams County Board of Supervisors that a spike in claims pushed reinsurance and claims costs sharply higher this year, producing a 22% premium increase and an estimated $818,000 budget impact.
Adams County supervisors were told that the county's self-insured health plan saw a major spike in claims that drove a 22% increase in costs for the plan this year.
Greg Parker, the county's insurance agent, told the board a rolling 12-month look at claims found about $2,419,000 paid in claims against roughly $785,000 of fixed reinsurance and Blue Cross payments, which he described as a roughly 307% loss ratio. "For every dollar I take in, I spend three," Parker said, describing the ratio.
Parker said the plan has seen fluctuations in prior years'reinsurance costs, including an 8% drop in one year and a later 9% increase, and that this year's 22% increase stemmed from…
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