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SFHSS hears 2023 plan experience and approves 10‑county survey as context for 2025 rates
Summary
CFO Iftikhar Hussain and Aon presented 2023 financial results and a 10‑county survey showing a ~9.46% average rate increase; the board approved the 10‑county survey and heard that pharmacy and specialty drugs remain the main cost drivers.
At its March 14 meeting the Health Service Board received a detailed financial briefing on 2023 plan experience and approved a 10‑county rate‑survey package to inform 2025 rate negotiations.
CFO Iftikhar Hussain told trustees that claims for the trust were running higher than expected and that the January 1, 2024 rate adjustments (about a 10.1% average increase across plans) had begun to take effect. Hussain said pharmacy spending rose significantly last year; higher rebates helped…
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