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KPMG gives Health Service System trust a clean audit; reserve for claims jumps after plan funding change
Summary
KPMG issued an unmodified opinion on the 2013 financial statements and internal controls for the Health Service System trust; auditors highlighted a 173% increase in the reserve for claims (from about $9M to $26M) linked to Blue Shield’s midyear conversion to a flex‑funded plan and reported no deficiencies.
KPMG senior manager Jamie Caban told the Health Service System Board the trust’s 2013 fiscal‑year audit resulted in a clean, unmodified opinion on both the financial statements and internal‑control/compliance testing. "We issued a clean and unmodified opinion for the fiscal year 02/2013," Jamie Caban said.
Caban identified three significant financial changes during the year. The reserve for claims increased roughly 173 percent — from about $9 million to $26 million — largely because Blue Shield converted…
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