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District reports $19.1M reserve; open enrollment shifts reduce projected spend‑down
Summary
Risk management reported an October fund balance of $19.1 million, October claims ran $537,000 over budget combined, and open enrollment shifts reduced the projected gross budget from $23.8M to $23.2M, trimming the estimated spend-down on reserves to about $5.0M.
At the Dec. 11 meeting the district's risk management representative reported an October fund balance of $19,100,000 and highlighted claims and open-enrollment changes that reduced the district's projected spend-down.
The presenter said medical claims ran 18.7% over expected (about $229,000) in October and pharmacy claims ran 12.1% over (about $87,000), resulting in combined claims $537,000 over budget for the month. The report identified 21 members at or above 50% of a specific high-cost threshold and eight members above the $250,000 specific threshold.
Open enrollment shifts — including movement out of a high-premium PPO plan to lower-cost plans — reduced the district's projected gross budget before the two-month premium holiday from $23.8 million to $23.2 million. The speaker said that change and the premium-holiday decision lowered the projected use of the fund reserve from roughly $5.2 million to about $5.0 million.
The board received the update; no change to benefits policy or new appropriations were approved at the meeting.
