Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board approves reduced IBNR and contingency reserves for SFHSS self‑funded and flex‑funded plans
Summary
The Health Service Board voted unanimously to approve SFHSS actuarial recommendations for incurred‑but‑not‑reported (IBNR) reserves and to set contingency reserves at the 90.5th percentile as of 06/30/2024 for listed self‑funded and flex‑funded plans. CFO and actuary said faster claim processing and other factors reduced IBNR totals.
The Health Service Board voted unanimously to accept actuarial recommendations for the SFHSS incurred‑but‑not‑reported (IBNR) reserves and to set contingency reserves at the 90.5th percentile confidence level for the self‑funded and flex‑funded medical and prescription drug plans as of June 30, 2024.
Aon lead actuary Mike Clark presented the analysis and the rationale. Clark said IBNR for medical and the self‑funded dental PPO decreased between…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
