Colchester, Connecticut

Health Insurance Reserve August 2021

BOE Budget Committee Meeting 9:00AM (REVISED: 1pm 10/5/2021)

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SCHEDULE 1


                          COLCHESTER BOARD OF EDUCATION
                        HEALTH INSURANCE RESERVE ANALYSIS
                               AS OF: AUGUST 2021

                                                 FINAL

   BEGINNING BALANCE 7/1/21                    3,574,714.03

   DEPOSITS:
   EMPLOYER CONTRIBUTIONS                        848,363.00
   CO-PAY EMPLOYEES                               37,086.32
   RETIREES                                       57,950.65
   COBRA                                           1,836.04
   INTEREST                                          636.09
   TOTAL DEPOSITS                                945,872.10

   EXPENSES:
   CLAIMS                                        793,043.42
   ADMIN FEE                                     141,108.58
   HSA EMPLOYER CONTRIBUTION                      16,250.00
   Federal Excise Tax                              1,821.18
   Wellness Program Fees                               0.00
   Wellness Program Incentives                         0.00
   Year End Settlement                                 0.00
   State Assessment                                    0.00
   PPI Benefits                                    8,972.50
   Actuarial Services                                  0.00
   PY Adj & Audit Fees                                 0.00
   Other                                               0.00
   TOTAL EXPENSES                                961,195.68

   ENDING BALANCE                              3,559,390.45




10/5/2021 1:27 PM
       SCHEDULE 3



                                 COLCHESTER BOARD OF EDUCATION
                                HEALTH INSURANCE MONTHLY SUMMARY
                                      AS OF: AUGUST 2021


                                REVENUES                             EXPENSES                                                                 MONTHLY       YTD


                                                                                Wellness     State        PPI
                    EMPLOYER    CO-PAYS     TOTAL      CLAIMS/FEES    ADMIN                                        HSA     Other    TOTAL     BALANCE     BALANCE
                                                                                Program    Assessment   Benefit


BEG BALANCE                                                                                                                                               3,574,714
Jul-20               424,182      60,549    484,731       564,371          0           0           0      4,451   16,250    1,821   586,893   (102,163)   3,472,551
Aug-20               424,182      36,960    461,142       228,672    141,109           0           0      4,522        0        0   374,303     86,839    3,559,390
Sep-20                     0           0          0             0          0           0           0          0        0        0         0          0    3,559,390
Oct-20                     0           0          0             0          0           0           0          0        0        0         0          0    3,559,390
Nov-20                     0           0          0             0          0           0           0          0        0        0         0          0    3,559,390
Dec-20                     0           0          0             0          0           0           0          0        0        0         0          0    3,559,390
Jan-21                     0           0          0             0          0           0           0          0        0        0         0          0    3,559,390
Feb-21                     0           0          0             0          0           0           0          0        0        0         0          0    3,559,390
Mar-21                     0           0          0             0          0           0           0          0        0        0         0          0    3,559,390
Apr-21                     0           0          0             0          0           0           0          0        0        0         0          0    3,559,390
May-21                     0           0          0             0          0           0           0          0        0        0         0          0    3,559,390
Jun-21                     0           0          0             0          0           0           0          0        0        0         0          0    3,559,390
      TOTAL          848,363      97,509    945,872       793,043    141,109           0           0      8,973   16,250    1,821   961,196    (15,324)


MONTHLY AVERAGES:
DEPOSITS             472,936
EXPENSES             480,598

CONTRIBUTION TO
RESERVE               (7,662)
                                                                 COLCHESTER BOARD OF EDUCATION
                                                             13 MONTH MEDICAL CLAIMS TREND HISTORY
                                                              (PAID CLAIMS AND NETWORK ACCESS FEE)
                                                                     Excludes Administrative Costs
         600,000



         500,000



         400,000



         300,000
AMOUNT




         200,000



         100,000



              0
                  Aug-20     Sep-20     Oct-20     Nov-20     Dec-20     Jan-21   Feb-21    Mar-21     Apr-21   May-21     Jun-21     Jul-21   Aug-21
          Series2 504,649    316,381   317,697     406,481    479,710   418,813   391,240   436,515   463,890   502,513   371,928    564,371   228,672
          Series1 394,324    399,632   382,998     384,549    379,245   388,514   387,210   391,032   384,833   407,247   408,975    425,002   415,605
             Series 1 - Rolling 13 month average
             Series 2 - Monthly claims




                                                                                                                                    10/5/2021 1:27 PM