Lewis County adopts $3 million health plan fund-balance policy to buffer premiums

The Lewis County Legislature on June 17 adopted a health plan fund-balance policy that sets a recommended minimum reserve of $3,000,000 for the county's employee health insurance fund and gives a steering committee authority to review and recommend adjustments to the level twice a year.

County staff presented the draft policy before the vote. "Minimum fund balance amount, our recommendation is $3,000,000," the presenter, identified in the meeting as Eric (Staff member), told legislators as he walked through calculations and assumptions behind the recommendation.

The policy directs a steering committee made up of county administration, hospital administration and consultants (GKG) to formally review the fund balance twice a year and permit the committee to recommend revisions to the minimum reserve. The presentation explained how actuarial inputs and short-term claim lags informed the target. Milliman, the county's actuarial firm, provides the county's incurred-but-not-reported (IBNR) and…