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SFHSS board acknowledges $1.66 million available for 2019 rate stabilization, directs further actuarial work
Summary
Aon Hewitt told the San Francisco Health Service Board that a $6.19 million stabilization reserve existed as of 12/31/2017, leaving an actuarially calculated $1.661 million for future stabilization; the board moved to apply one-third ($554,000) to 2019 rates and asked staff and the actuary to develop additional options and an RFP for actuarial services.
The Health Service Board of the City and County of San Francisco on Thursday received updated actuarial estimates showing $1,661,000 available to stabilize City Plan rates for 2019 after applying prior allocations to 2018 premiums.
Mike Clark of Aon Hewitt presented the 2017 claim and utilization review for the City Plan, saying the conversion of Medicare retirees to fully insured plans freed stabilization funds for active employees and early retirees. Clark reported that the December 31, 2017 stabilization reserve for the City Plan was about $6,190,000 and that $4,529,000 had already been allocated into 2018 rates, leaving…
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