Public Hearing Regarding CareFirst Financial Settlement Refund2021-11-30T10:30:00On October 11, 2021, staff received the 7/1/2020-6/30/2021 CareFirst Financial Settlement. CareFirst calculates a settlement at the end of each fiscal year. The annual settlement is the difference of monthly payments made to CareFirst adjusted to reflect actual claims and other adjustments to include third party subrogation and prescription rebates. Bolton Partners has reviewed and verified the settlement calculation. Given the 20/80 premium cost split between the county and the participants, 20% of the refunded amount is due back to the Employees and Retirees while 80% is the County’s portion of the refund.
County Commissioners Hearing Room175 Main StreetPrince FrederickMD20678 On October 11, 2021, staff received the 7/1/2020-6/30/2021 CareFirst Financial Settlement. CareFirst calculates a settlement at the end of each fiscal year. The annual settlement is the difference of monthly payments made to CareFirst adjusted to reflect actual claims and other adjustments to include third party subrogation and prescription rebates. Bolton Partners has reviewed and verified the settlement calculation. Given the 20/80 premium cost split between the county and the participants, 20% of the refunded amount is due back to the Employees and Retirees while 80% is the County’s portion of the refund.