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State group insurance claims climb; reserves projected to fall in FY2025
Summary
Glenda Smith told the Group Insurance Advisory Committee that medical claims year-to-date totaled $138,548,221, an 11% increase over last year, and that the FY2025 reserve projection is $39,840,000. The committee discussed dental and medical reserve balances and next steps for monitoring.
Glenda Smith, chief financial officer for the Department of Administration, told the Group Insurance Advisory Committee that "claims and expenses have been $138,548,221 to date this fiscal year," an 11% increase over the prior fiscal year and a figure that frames immediate budget considerations for the Office of Group Insurance.
Smith also reported the medical reserve balance at $82,703,341 and the FY2025 reserve projection at $39,840,000. On dental, she said claims to date were $7,588,009 — a 16% increase and 33% over projection — and that the dental reserve balance is $3,654,987. The numbers were presented to show both year-to-date fiscal pressure on medical and dental plans and the current reserve posture.
Committee members heard the figures and recorded follow-up items to review appeals data and monitor carrier performance. The committee did not take a formal funding action at the meeting; next steps recorded included staff analysis and further reporting to GIAC.
