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Health Service Board credits $7.43M stabilization reserve after unexpectedly favorable City Plan claims, preliminary 2015 rates decline
Summary
Aon Hewitt told the Health Service Board City Plan claims trended far below prior projections, producing a roughly $17 million favorable swing and a $7.431 million stabilization credit the board applied in preliminary 2015 rate calculations, producing proposed rate decreases for active and retiree cohorts.
The Health Service Board voted to apply a $7,431,000 stabilization credit to 2015 City Plan rates after an actuary reported unusually favorable claims experience.
Anil Kocher of Aon Hewitt told the board that recent claims were "incredible," noting the plan generated roughly $17,000,000 of favorable experience compared with expectations and that, under the board's three-year amortization…
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