Exhibit_C__Incurred__Paid_Updated.pdf

PDF 126 KB Posted

Attached to
Group Life & Disability and Supplemental Health Benefits
Solicitation number
RFP-1-26-12
Issued by
Brevard County, Florida

About this file

Written by GovTribe AI ·

This document is an insurance claims experience exhibit for Brevard County Board of County Commissioners under Contract 641728, detailing incurred and paid claims data across multiple employee benefit lines of coverage from January 1, 2022, through June 30, 2026. The exhibit provides comprehensive actuarial experience across seven benefit categories: Short-Term Disability (effective 1/1/2018), Basic Life (effective 4/1/2008), Basic Accidental Death & Dismemberment (effective 1/1/2018), Additional Life (effective 1/1/2018), Additional AD&D (effective 1/1/2018), Dependents Life (effective 1/1/2018), and Long-Term Disability (effective 1/1/2018). Each coverage section documents enrollment lives, earned premiums, paid claims, reserve adjustments, and calculated loss ratios across the five-year period with summary totals.

The claims experience demonstrates significant variation across benefit lines, with Basic Life showing the highest overall loss ratio of 132 percent (1,655,126 incurred claims against 1,257,836 earned premium) and Dependents Life at 148 percent loss ratio, indicating claims exceeded earned premiums substantially. Conversely, Additional AD&D maintained minimal claims activity with a zero percent loss ratio, while Short-Term Disability achieved a 58 percent loss ratio and Long-Term Disability a 48 percent loss ratio over the experience period. The data reflects enrollment ranging from 1,007 to 4,055 lives depending on the coverage type, with total earned premiums across all lines exceeding 6.9 million dollars against total incurred claims of approximately 4.96 million dollars. This historical experience data would serve as the basis for rate development and pricing considerations for the renewal or repricing of these benefit lines under the county's group benefits program.

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Brevard County Board Of County Commissioners

Contract number - 641728

Coverage Effective Date: 1/1/2018

Short Term Disability

Experience: Paid Basis

From 1/1/2022 1/1/2023 1/1/2024 1/1/2025 1/1/2026

Through 12/31/2022 12/31/2023 12/31/2024 12/31/2025 6/30/2026

Lives * 1,307 1,340 1,396 1,456 1,493 6,992

Earned Premium 338,847 345,003 372,295 385,470 227,965 1,669,580

Paid Claims 211,575 219,948 220,687 196,641 81,489 930,340

FICA 596 0 0 0 0 596

Change in Reported Reserves 0 0 0 0 0 0

Change in IBNR Reserves 3,718 4,749 4,143 5,682 11,243 29,535

Incurred Claims 215,889 224,697 224,830 202,323 92,732 960,471

Loss Ratio 64% 65% 60% 52% 41% 58%

* Data pulled from end of period

Totals

Coverage Effective Date: 4/1/2008

Basic Life

Experience: Paid Basis

From 1/1/2022 1/1/2023 1/1/2024 1/1/2025 1/1/2026

Through 12/31/2022 12/31/2023 12/31/2024 12/31/2025 6/30/2026

Lives * 3,789 3,912 3,958 3,984 4,055 19,698

Earned Premium 242,272 251,998 283,544 311,977 168,045 1,257,836

Paid Claims 478,500 542,440 198,300 432,400 225,360 1,877,000

Conversions 0 0 0 0 0 0

Change in Reported Reserves -155,328 32,588 -96,636 -46,562 26,718 -239,220

Change in IBNR Reserves 10,713 -7,859 5,810 5,845 2,837 17,346

Incurred Claims 333,885 567,169 107,474 391,683 254,915 1,655,126

Loss Ratio 138% 225% 38% 126% 152% 132%

Coverage Effective Date: 1/1/2018

Basic AD&D

Experience: Paid Basis

From 1/1/2022 1/1/2023 1/1/2024 1/1/2025 1/1/2026

Through 12/31/2022 12/31/2023 12/31/2024 12/31/2025 6/30/2026

Lives * 3,746 3,866 3,910 3,938 4,011 19,471

Earned Premium 37,840 38,706 43,512 47,379 24,229 191,666

Paid Claims 0 46,000 0 0 0 46,000

Conversions 0 0 0 0 0 0

Change in Reported Reserves 0 0 0 0 0 0

Change in IBNR Reserves 641 -488 299 293 188 933

Incurred Claims 641 45,512 299 293 188 46,933

Loss Ratio 2% 118% 1% 1% 1% 24%

Coverage Effective Date: 1/1/2018

Additional Life

Experience: Paid Basis

From 1/1/2022 1/1/2023 1/1/2024 1/1/2025 1/1/2026

Through 12/31/2022 12/31/2023 12/31/2024 12/31/2025 6/30/2026

Lives * 1,782 1,830 1,863 1,849 1,904 9,228

Earned Premium 595,966 601,876 612,561 586,822 313,899 2,711,124

Paid Claims 385,000 328,400 410,000 384,800 257,600 1,765,800

Conversions 0 0 0 0 0 0

Change in Reported Reserves -245,440 68,300 -140,860 -221,520 24,380 -515,140

Change in IBNR Reserves -1,319 5,051 -4,529 -1,144 8,224 6,283

Incurred Claims 138,241 401,751 264,611 162,136 290,204 1,256,943

Loss Ratio 23% 67% 43% 28% 92% 46%

Coverage Effective Date: 1/1/2018

Additional AD&D

Experience: Paid Basis

From 1/1/2022 1/1/2023 1/1/2024 1/1/2025 1/1/2026

Through 12/31/2022 12/31/2023 12/31/2024 12/31/2025 6/30/2026

Lives * 1,782 1,836 1,863 1,849 1,904 9,234

Earned Premium 40,402 35,712 36,348 41,116 20,898 174,476

Paid Claims 0 0 0 0 0 0

Conversions 0 0 0 0 0 0

Change in Reported Reserves 0 0 0 0 0 0

Change in IBNR Reserves -57 -1,650 1,575 39 116 23

Incurred Claims -57 -1,650 1,575 39 116 23

Loss Ratio 0% -5% 4% 0% 1% 0%

Coverage Effective Date: 1/1/2018

Dependents Life

Experience: Paid Basis

From 1/1/2022 1/1/2023 1/1/2024 1/1/2025 1/1/2026

Through 12/31/2022 12/31/2023 12/31/2024 12/31/2025 6/30/2026

Lives * 1,111 1,090 1,032 1,007 1,007 5,247

Earned Premium 78,678 75,977 75,093 71,559 37,347 338,654

Paid Claims 120,000 60,000 201,800 93,200 25,000 500,000

Conversions 0 0 0 0 0 0

Change in Reported Reserves 0 0 0 0 0 0

Change in IBNR Reserves -123 -243 -40 -131 225 -312

Incurred Claims 119,877 59,757 201,760 93,069 25,225 499,688

Loss Ratio 152% 79% 269% 130% 68% 148%

Coverage Effective Date: 1/1/2018

Long Term Disability

Experience: Incurred Basis

From 1/1/2022 1/1/2023 1/1/2024 1/1/2025 1/1/2026

Through 12/31/2022 12/31/2023 12/31/2024 12/31/2025 6/30/2026

Lives * 1,498 1,505 1,532 1,519 1,545 7,599

Earned Premium 453,025 465,939 487,935 480,347 272,544 2,159,790

Paid Claims 68,146 193,555 19,752 54,049 0 335,502

FICA 0 0 0 0 0 0

Change in Reported Reserves 0 110,582 0 281,504 0 392,086

Change in IBNR Reserves 0 0 0 0 310,602 310,602

Incurred Claims 68,146 304,137 19,752 335,553 310,602 1,038,190

Loss Ratio 15% 65% 4% 70% 114% 48%

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