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Actuary reports City Plan lost roughly $2.7M in 2016 but membership rose; board applies $1.51M stabilization subsidy to 2018 rates
Summary
Aon Hewitt told the board City Plan’s 2016 paid‑basis shortfall was about $2.74M while membership and average contract size increased; the board approved applying roughly $1.51M from the stabilization reserve to lower 2018 rates for actives and early retirees.
Aon Hewitt’s actuary told the Health Service System Board the 2016 City Plan experience showed membership growth and a reduction in per‑subscriber cost, but a paid‑basis deficit on the self‑funded PPO. The actuarial presentation said the trust ended 2016 with a paid‑basis deficit that the presenter quantified on the record as approximately $2,742,250.
The presenter…
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