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Board updates reserve policies and adopts administrative and sustainability budgets
Summary
The board approved updates to IBNR, contingency and stabilization reserve policies to reflect potential self-funded HMOs and flex-funded products, and adopted the proposed administrative budget for FY2014–15 and a $2.05/member/month healthcare sustainability spending plan.
The Health Service Board approved a package of reserve-policy updates and two budget items that together set funding and governance priorities for the trust.
Actuarial staff recommended minor textual and date updates to the IBNR (incurred-but-not-reported) reserve policy and expanded the contingency and stabilization reserve policies to include potential self-funded HMOs (e.g., Kaiser) and Blue…
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