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SFHSS finance report shows improved net position; board approves 10‑county survey for 2026 rates
Summary
SFHSS staff reported a smaller-than-expected decline in net position for the current year and forecasted interest and pharmacy rebate impacts. The board unanimously approved the annual 10‑county survey results, used to set plan-year 2026 rates; actuaries also presented 2024 plan experience across self-funded and flex-funded plans.
San Francisco Health Service System staff told the Health Service Board on March 13 that the system’s net position projection improved from a projected $37 million drop to a $25 million decline, driven in part by payroll timing and three pay periods in the reporting window, while medical and pharmacy claims remain elevated.
SFHSS Chief Financial Officer Iftikhar Hussain told the board the projection improved primarily because of pay-period timing: “We had a projection of a $37,000,000 drop last month, and it improved to $25,000,000 mainly on how the pay periods fall. So we had 3 pay periods.” He said pharmacy rebates and the timing of pay periods yielded favorable…
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