TITLE
Title
BUDGET AMENDMENT TO ALIGN FY 2017-18 RETIREE HEALTHCARE
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SPONSOR
Sponsor
Karen Fishel (Carol Campbell)
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BACKGROUND
Background
A budget adjustment is needed to account for rate adjustments to the Medicare Advantage Plan offered to retirees. These adjustments were to the retiree contribution only, and they were approved by the Board in October 2017 and effective January 2018. The FY 2017-18 budget does not have sufficient revenues or expenses to account for the full-year impact of these increased rates due to approximately 10% more retirees enrolling in the plan than initially anticipated so an adjustment is needed to bring the retiree contribution revenue and Medicare Advantage Plan expense budgets in line with actual revenues. No additional rate adjustments are necessary for this budget amendment.
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BUDGET IMPACT
Budget Impact
Budget Ordinance Amendment
Internal Service Fund
$26,404 Increase in User Charges
$26,404 Increase in Employee Health Care Plan
NO ADDITIONAL COUNTY FUNDS REQUIRED
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REQUESTED ACTION
Requested Action
Approve an increase of $26,404 in User Charges revenues and increase the FY 2017-18 Employee Health Care Plan budget by the same amount to reflect actual revenues received from retiree contributions for the Medicare Advantage Plan in FY 2017-18.
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