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Board approves administrative fees, budgets and reserve disclosures; rate stabilization reserve to rebate about $3.8 million
Summary
The Health Service System board accepted UnitedHealthcare's administrative fees, reviewed reserve balances (IBNR and contingency reserves), approved general-fund and 205 fund budgets, and noted a rate-stabilization rebate of roughly $3.8 million to be applied to 2017 rates.
The Health Service System board approved several administrative and financial items during the meeting, including UnitedHealthcare's administrative fee schedule, budget approvals and public disclosures of reserve levels.
Actuarial staff presented UnitedHealthcare's 2017 administrative fee request and associated embedded fees. The actuary said the carrier proposed a standard administrative-fee increase (about 3% for actives and early retirees, with smaller increases for…
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