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26 <br /> Slide #2 <br /> Background <br /> • Joined North Carolina Health I nsu ra nce Pool <br /> (NCHIP) <br /> - July 1,2018 by DOM approval <br /> rk <br /> C',00nty has maintained monthly premium `°:o.`ne" <br /> equivalent rates for health insurance - �•<WmF <br /> - stable claims experience <br /> .[awr wars C.A.I L7 <br /> - high reserve in transition year <br /> Forthe FY 202MO21 and FY 2 02 1 12 022 plan -40 <br /> years, maintained budget of$13.3 million <br /> Dental insurance is provided by Delta Dental <br /> - total Dental budget is currently S635,000 1 <br /> ORANGE COUNTY <br /> NOR T3 I CAROLINA <br /> Brenda Bartholomew said the monthly premium has been maintained by county since <br /> 2015 and not passed onto to employees. <br /> Slide #3 <br /> Budget Summary <br /> • Allhaugh the plan is projected to have a positive year-end reserve balance of <br /> $1.-W.254. <br /> - addilional funding isriecessary <br /> tulle mserve levels for future sustainablldy of rales <br /> to coverproiecled total plan costs for FY M2r2W5 <br /> - increase in the overall number of claims <br /> - hlgher costa per claim <br /> - high Humber of high claims <br /> - two very high cost ciaims <br /> • The current fund ratio is i 9X Through )actuary 2022 <br /> - chart shows through Decemter 2021:this is within the ratio to cover expected <br /> {IBNR); our target is 2,5X <br /> Ending YTD F+`22 Told Bake Esiimaled Reserve Reserve <br /> 13 lance FY2+ IBNR Needs Rasa <br /> S1,957,T7T 4694,7W S1,272,997 S714,947 S559,950 .1.9 <br /> 31,785.118 S714.W7 S1,071,071 2.5 <br /> $512.121 3512.121 <br /> ORANGE COUNTY <br /> NOFM r CAROLINA <br /> Brenda Bartholomew said that there have been high claims and an increase in overall <br /> claims this past year. She said the target for reserve ratio is 2.5 and it has fallen behind. <br />