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Health Service Board approves IBNR and contingency reserve amounts for 2024 fiscal year
Summary
The Health Service Board voted unanimously to approve incurred‑but‑not‑reported (IBNR) reserves and contingency reserves (90th‑percentile confidence level as presented) for SFHSS self‑funded and flex‑funded plans as of June 30, 2024.
The San Francisco Health Service Board voted unanimously on Jan. 8 to adopt SFHSS staff and Aon actuary recommendations for incurred‑but‑not‑reported (IBNR) reserves and contingency reserves for the self‑funded and flex‑funded plans as of June 30, 2024.
Aon lead actuary Mike Clark presented the actuarial analysis and described the reserve policy framework used to derive the values. Clark said the board-approved contingency reserve policy directs the plan actuary to present recommendations at three statistical confidence levels; the board chose to continue using the “90 fifth percentile confidence level”…
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