Projected Savings definition
Examples of Projected Savings in a sentence
FY 2018 FY 2019 Total Projected Savings No projection No projection Actual Savings $5.3 million $17.9 million $23.2 million - Implementation cost o Certain aspects of the changes to health benefits required by the agreement resulted in implementation costs for the state plan health carriers, which was charged back to the plan.
FY 2018 FY 2019 Total Projected Savings $13.3 million $15.9 million $29.2 million Actual Savings $6.6 million $13.0 million $19.6 million - Utilization management on physical and occupational therapy services (implemented October 1, 2017) o The agreement requires the state employee health plan’s consistent application of utilization management requirements for physical and occupational therapy.
FY 2017 & 2018 FY 2019 Total Projected Savings $300.6 million $468.2 million $768.8 million Actual Savings $392.8 million $404.8 million $797.6 million - Furlough Daysii o In Fiscal Year 2018, the agreement required three furloughed days (non-paid days off from work) for union employees.
FY 2018 FY 2019 Total Projected Savings ($1.1 million) ($1.3 million) ($2.4 million) Actual Savings Data Not Available Data is currently not available.
FY 2018 FY 2019 Total Projected Savings $2.7 million $3.2 million $5.9 million Actual Savings $1.5 million $2.0 million $3.5 million - PCP and specialist tiering based on quality and cost for primary care providers (implemented October 1, 2017) o The agreement waives copays for certain primary care providers who commit to shared savings agreements with the state’s medical carriers which encourage improvements in quality metrics and improvements in the efficiency with which care is provided.
FY 2018 FY 2019 Total Projected Savings $2.8 million $3.7 million $6.5 million Actual Savings $0.47 million $0.97 million $1.4 million - Increased co-pays for certain prescription drugs (implemented October 1, 2017) o The agreement creates a 4-tier co-pay schedule.
FY 2018 FY 2019 Total Projected Savings $11 million ($11 million) $0 Actual Savings $9.1 million ($9.1 million) $0 - One time lump-sum payments o As a partial offset to the negotiated wage freeze and furlough days the agreement included a one time lump-sum payment to all union employees of $2,000 or the top step lump sum payment plus $1,000, which ever was greater, to be paid in Fiscal Year 2019.
In no event shall, military service certified to Participant as credited service under the First United Bank and Trust Pension Plan, cause an increase to any offset amount under this Participation Agreement and Plan.
FY 2018 FY 2019 Total Projected Savings $7.5 million $4.5 million $12 million Actual Savings $1.4 million $1.3 million $2.7 million - Adopting the CVS standard formulary (implemented October 1, 2017) o The agreement requires the adoption of a standard drug formulary offered through the state’s contracted pharmacy benefit manger to encourage utilization of lower cost and more effective prescriptions.
FY 2018 FY 2019 Total Projected Savings $36 million N/A $36 million Actual Savings $29.6 million $0.1 million $29.7 million - Delay in longevity payments o Longevity payments are those given to state employees based on seniority and time spent working for the state.