November 30, 2021
County Commissioners Hearing Room
175 Main Street
2nd Floor, Courthouse
Prince Frederick, MD 20678
Public Hearing Regarding CareFirst Financial Settlement Refund
Tuesday, November 30, 2021
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.
A public hearing is scheduled for Tuesday, November 30, 2021 at 10:30 for the Board’s action to process the necessary budget adjustment of $1,197,177, to give the employees a benefit holiday for 3 pays and the retirees a benefit holiday for the month of December. The budget adjustment also includes 2 mid-year longevity steps: 1st longevity step; for employees who were employed with Calvert County Government as of 07/01/2009 and the 2nd longevity step; for employees who were employed as of 07/01/2010 with Calvert County Government.