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Board will use portion of stabilization reserve to limit 2017 rate spikes, approves 50% buy‑down of remaining balance
Summary
After detailed debate over affordability and fiscal sustainability, the Health Service System board voted to apply half of the remaining stabilization reserve to reduce 2017 city‑plan premium increases and suspended the stabilization policy to allow the adjustment.
The board voted to use a portion of the city‑plan claim stabilization reserve to reduce projected premium increases for actives and early retirees in 2017, selecting a compromise approach after extended discussion about long‑term sustainability.
Aon Hewitt presented the city‑plan self‑funded experience and recommended a $5,550,000 one‑time subsidy from the stabilization reserve to buy down rates for 2017. The actuary explained the recommendation would keep increases in line and reduce the…
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