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SJVIA keeps $10.6 million IBNR reserve; consultants outline county deficits and pharmacy drivers
Summary
The San Joaquin Valley Insurance Authority board voted to keep its incurred-but-not-reported reserve at $10,600,000 pending further runout data, after hearing that Tulare County’s 2025 plan experience showed a $4.4 million deficit and that specialty drugs and pharmacy rebates materially affected results.
The San Joaquin Valley Insurance Authority board voted to maintain its incurred-but-not-reported (IBNR) claim reserve at $10,600,000 for at least six months while staff and consultants gather additional runout data and finalize year‑end reports.
Keenan consultant Borden Darm presented a preliminary FY 2026–27 budget that projects roughly $161 million in revenue and nearly the same amount in expenses, leaving a preliminary positive balance of about $1.3 million, based on assumed enrollment and trend rates. "We developed the preliminary budget for fiscal year 26–27," Darm said, noting the projection is based on current head counts, enrollment assumptions and trend factors and…
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