Miguel Salazar and Dave Bennett from 1st Source Insurance approached the Pulaski County Commissioners with some good news this week—the county has received a refund of $97,744 on their health insurance.
This refund comes from the Signa program, which allows two-thirds of any surplus in the claims fund not used to pay claims to be refunded to the county, and will more than cover the county’s premium for November. Salazar went on to remind the commissioners that they would not have received this refund from Anthem.
“This year, the program worked like it was designed to work. If they were with a typical, fully-insured type of plan, even on a good year they would never see a refund,” said Salazar.
Two claims were recently made on the insurance totaling over $250,000, and those claims could have had a negative effect on the refund for the county. Fortunately, a cap in place for such high claims protected the county, saving almost $160,000.