Get email alerts on the Claims topic
No spam. Unsubscribe anytime.
DCSD plan reports lower claims and reduced net costs through August
Summary
LP Insurance told the Health Advisory Committee that employee claims are down year-to-date, cost-per-employee figures have improved, and August net plan costs declined compared with 2023; the report also noted several large claims and an estimated IBNR liability.
LP Insurance presented a review of paid claims through August 2024, reporting several year-over-year improvements for the Douglas County School District self-funded plan. Nate Kerr of LP Insurance said employee enrollment is up about 0.81% while dependent enrollment is down about 2%, and total employee claims are down roughly 9% compared with 2023. The firm reported an average cost per employee of $667 year to date and total August claims of $866,830.
Kerr also reviewed plan-level figures that include fixed costs and reimbursements. Line 32 of the exhibit showed net plan costs for August at $977,297 and an average monthly composite net plan cost per employee of $917, a 9% decrease from 2023. The report listed five large claims exceeding the 50% stop-loss threshold (three new in August) and an incurred-but-not-reported (IBNR) estimate of $891,862. "This report shows the data for costs to the plan, not revenue/funding," Kerr said, and he added that "the plan is performing better thus far in 2024 than in several years past."
The committee did not adopt any funding changes in this item; members asked questions and requested follow-up data that could inform 2025 projections and potential revenue adjustments. The claims figures will be part of ongoing budget discussions ahead of the October meeting.
AI generated
The text on this page is AI generated. Summaries, highlights, analysis, and video transcripts are all produced from the original source material.
AI can make mistakes, so if you spot one, and we will fix it for everyone.
Note: the source content is unaltered by us. Any content source we link to, be it a video, an audio recording, or a document, is presented exactly as its publisher released it. That publisher is usually a government body, sometimes an individual official or another organisation.
