Reserve Insurance Fund. The Reserve Insurance Fund (Reserve) will be used for rate control and/or benefit enhancements in the insurance plan. Any benefit changes will be addressed as part of the collective bargaining process. Reserve Formula The Reserve should be seventeen (17%) percent of projected annual claims with a built in margin of ±25%. This margin will provide a safeguard against the reserve becoming too small or large depending on actual claims experience, shifts in enrollment, and inflationary trends.
Appears in 3 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
Reserve Insurance Fund. The Reserve Insurance Fund (Reserve) will be used for rate control and/or benefit enhancements in the insurance plan. Any benefit changes will be addressed as part of the collective bargaining process. Reserve Formula The Reserve should be seventeen (17%) percent % of projected annual claims with a built in margin of ±25%. This margin will provide a safeguard against the reserve becoming too small or large depending on actual claims experience, shifts in enrollment, and inflationary trends.
Appears in 2 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement
