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SFHSS board approves rate actions, stabilization reserve use and applies $16M Sutter settlement toward 2024 buy-downs
Summary
The board approved multiple 2024 rate actions April 23: applying $746,000 from the non-Medicare PPO stabilization deficit toward 2024 rates, holding VSP vision rates steady, approving retiree dental renewals (Delta Dental PPO +2% for 2024), and allocating about $16 million in Sutter Health settlement funds to buy down premiums for specified HMO/PPO plans.
The San Francisco Health Service System board approved a package of rate and reserve actions at its April 23 meeting intended to stabilize 2024 premiums for covered plans.
Actuary Mike Clark presented several recommendations and the board voted unanimously on each. For the self-funded non-Medicare PPO plan the board approved applying one-third of the 12/31/2022 stabilization reserve deficit'$746,000 of a $2,238,000 deficit'as a rate buy-up allocation for 2024. Clark described the calculation and how the remainder will carry forward into 2025.
Clark also presented fully insured and retiree renewals. The board approved a hold on 2024 VSP vision premium rates as part of an existing multi-year agreement;…
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