Our membership and we value all the hard work that you all do. So, thank you and happy new year. President scott thank you very much. Any other Public Comment. Hearing and seeing none, the next item. Item 4, discussion item, directors report, acting executive director griggs. Board report for the december work, so we are in january, but looking back and highlighting the december work, and we are in the mode of thanking everyone, i want to thank the board for this opportunity. Its been a challenge, educational, its been fun, actually. Believe it or not. It has been a lot of hard work, and just to reiterate, specifically pamela and marina coleridge, the staff has been helpful but thanks to them and their support, having to put some things of operational, things on to marina and pamela stepping up with her expertise and how the city financial stuff works. So, thank you to all the staff. It has been a very busy year. And we are about to start a new rates and benefits cycle which well talk about in just a moment. But i want to go over what personnel positions we have currently open. We do have a 1209 benefit technician open and we are creating a new list, as most of you are familiar with the city process, that does take a little while. We have two benefits analyst positions open and reviewing a current list and scheduled some interviews for mid january. We also have 1802 research assistant, Job Description is written, or rewritten, i think its important that the new executive director is on board. This is a position that offers a lot of support to that position. So, it would be necessary to have the input from the new director on that position. We also have a Senior Administrative analyst vacant. The position has been posted. Our illustrator and art designer has been filled and the candidate selected starts on tuesday, and his name is ryan clous, and hopefully we can have him at the next meeting, i believe its 7th or 8th. And filled assistant educator position, a projectbased position, temp exempt and filled by someone who currently works at h. S. S. , her name is ava fuday. A busy year, december is when our confirmation letters good out, i think we had about 74,000 of these letters go out. I mentioned the last meeting we scattered those over a few days so we would not have 70,000 calls on the first day. What we have noticed by comparing to 2016, what we do, we compare open enrollment in certain months to the year prior and years prior, what we have noticed is we had a decreased in bound call volume for december, even after the confirmation letters started hitting, and decreased drop in consultations, speak come in and speak to the Member Services and we had a significantly increased speed of answer. And then 264 fewer abandoned calls. All in all, what is that telling us, successful enrollment, so decrease in enrollment errors or problems with communications. What we look at as successful communication process by the decreased calls and confirmations. Also during this time in december, this allowed us to catch up with our regular enrollment process. 40,000 open enrollment applications does not mean we dont have new hire and Family Status applications and things to process, we caught up on all those, as well as our reporting. We do a lot of reporting, we get a lot of reports on enrollment and premium issues and reconciliation, so we managed to catch up on that during december. Data analytics, managed by marina coleridge. We still have several programs we are working on as far as programming the 2018 planned year changes. A lot of those happen to be strategic in the sense we wait for a particular time, the retirees reductions start at the end of the month. After the active employees, the first pay period in the year. We are working on those, that means a lot of programming, testing, and going back and fixing things. And also at a yearend reporting, part of the Affordable Care act is still in effect. So, we still have to do our 1095 reporting. The i. R. S. Did delay the deadline for that this year to march 2 but we are on the path to have it out january 31st. President scott remind me of the cost of that project last year and the number. Costed out, i think, was it year before last, marina . And i dont recall. President scott like 3 million . It was a lot, and what was substantial, the number of hours that we had to do in programming, we did the first year. So, it does decrease because we have the programming now, and there was no significant changes or compliance with the form. But that is a good question. I think we should put that into our management report next if you would. I we say these things like casually, you know. We are sending out 1099s and doing this, and there is an administrative cost to all this, and that employers are bearing and not to say whether its right or wrong but its a hidden cost, its there and its got to be done, and in order to kind of take a longer view of what employers can and will be doing under whatever the Affordable Care act takes in the future, it has cost to us as an organization. We should recognize that. Yes, and we will. We will look back at the original implementation and then probably do a comparison on what it took for 2018. President scott thank you. A couple of things that you are going to see highlighted in each division, tearing apart the Strategic Plan and the annual report as far as the format of it and information and redoing it. Tin cle we do a Strategic Plan, this meeting, we have decided to postpone that to march at this point so the new director can be on board and provide input. Annual report should be completed and up for your an action item in february. You can see that each division now is focussed on updating those two reports. Finance and accounting, another fun time of year for them, as we begin the budget. Development to meet the targets presented to us by the Mayors Office, and well have further information later with pamela. Communications, again, communications plays an integral role in the 74,000 confirmation letters. As i have said before, we have a newish now Communications Manager, carol karimi, who jumped in and dug in and did the same thing with our confirmation letters. So we are very happy that, to have her on board this year. And shes also playing a key role with me in going through the wording and the communications of the annual report. So, a lot of her work, as far as graphic design, how its going to look and what its going to say, is going to be up to her when you see that next month. She will also be working directly with the Graphic Designer starting on tuesday for an onboard process, the first time we have had a Graphic Designer and Communications Manager at the same time, hopefully longer than 2, 3 months as it was last time, so new having both of the staff on the same time, so a lot of work and improvement in the communications. And speaking of the improvement in the communication, we had a significant increase in people who were actually reading our e news. E news is email we put out every month, people sign up for it through our website, it can be active employees, retirees or anyone can sign up for it. And we didnt have at the time, we didnt have the reporting tool, but since we found a way to go on account and sent out 15,600, which is about the same as we did last year, but we had a 10 increase of people who actually open it and read it. So that jumped up from 5200 to 7,000 this year. Doing something right as far as communication. We want the email to be attractive to people, open it up and read it, a lot of great information in the emails. So, briefly about wellbeing. E. A. P. Overall has served about 30 more people through their services and thats both individual counseling and Organizational Services like trainings and consultation, and i think its very important to note as this is a service thats very important to the staff, especially if you think of some of the things we went through last year. Both within the city and in the state and the country, and other places. Most of the increase is due to promotional. More than usual of the campaign we are here for you campaign. So, i did want to highlight that. Outside of the different division, the directors meetings, as usual with the holidays, they do slow down a little bit and thats good for me. To get some work done in the offers. We did several really good meetings during the month of december and two were utilization meetings with blue shield and kaiser and i think we have some good information to provide to you through the rates and benefits process about utilization and costs happening with the two plans. Unless the Board Members have any questions, that concludes the directors report. President scott questions from members of the board regarding the directors report . I notice in the wellbeing area that we had some 19 departments that completed the wellbeing at work awards for, or received that this past year, and i would be interested in knowing the level of increase that represents. Stephanie, do you have that information with you or you want to president scott it is the first year for the award, all right. And how many total departments are we talking about . I know im cross talking through director griggs, how many total departments do we have in the city . How many . 60. President scott 60, all right. So, onethird of them have gotten there, and we are looking for the rest to move along, is that the idea . That is the idea. President scott thank you. Any other questions from the board . Any Public Comment . If not, well go to the next item. Item 5, discussion item, h. S. S. Financial reporting as of october 31, 2017, pamela levin. Pam levin, chief financial officer, deputy director. This months report summarizes the expenses for the Employee Benefit trust fund, also known as our trust, and the general Fund Administration budget through october 2017, and the year end projections through june 30, 2018, are presented. I want to first talk about the trust projection. On june 30th, 2017, the trust balance was 72. 5 million. Based on activity through october 27, 2017, crossing the year, very confusing. The fund balance is projected to be 70. 9 million as of june 30th, 2018. This is an increase of 3. 6 million from the last months report. The 3. 6 million increase is due to a combination of continued unfavorable claims experience in city plan that is offset by favorable claim experience in both the blue shield flex funded plan and the delta dental selffunded plan. We have not received any performance guarantees or pharmacy rebates so far this year. Those tend to be towards the end of the fiscal year. And since the distribution of this report last week, we have had a 15,000 reimbursement under the adoption and surrogacy plan that will be paid out later this month. The amount of flexible accounts will not be known until june. And First Quarter of 1718, projecting that we will end the year on budget. Any questions . President scott any questions from the board regarding the financial statement. Mr. Sass. Looks like through october very few items charged to the account and everything closed out through the open enrollment period, november, december, or what is so, the projections in this report for the 3, health care sustainable fund, have been looked at and combed through for our presentation next month on the budget for next two years. And so we, this is just a general projection. We expect that we will, well, im still working on it, honestly. So, i know there are a lot of onetime projects that we expect to finish this year, or at least get a good start on, like the website and some of the work that needs to be done on the benefits and some of the construction that needs to be done. In terms of operating on the ongoing, the expenses for open enrollment are pretty much complete. I think if you look at the projection that well present coming up, its about 282,000 that we have spent on open enrollment. The others are kind of i believe that we will spend less than whats projected right now, but as i said, we are combing through it to come up with a tighter projection in order to be able to see how much money well have available for the next two years. Just to follow up. The main reason i ask, putting together the budget plan for the coming year and the year after, to the extent there may be some balances left in this account that are unspent, i would hope that part of the plan would be to really fully utilize this fund to cover as much of our expenses as possible to meet as much of the mayors targets as possible in our operating budget. The more money we are able to utilize the fund for, the less money remains in the administrative budget, the more progress we make towards trying to get a plan through the Mayors Office without any significant cuts. I appreciate that. One thing that we have to keep in mind, the Sustainability Fund is the revenues are paid by all four employers and all four employers should get benefit of what is being done. So, thats kind of the line of demarcation in the general budget and the health care Sustainability Fund. So to the extent that we can do that, and we have several balancing plan type of actions to do that, we will do that. Well maximize as much as we can. All right. Thank you. President scott any other comments from the board . On page five under d. It says 3 per member per month for communication wellness, actuarial work, tote pal premium paid 90 to 100 by employer. Im not sure. I dont understand what that means. What page five. I actually am missing page five. And they are a, b, c, d footnotes on page five. Oh, ok. And she was specifically referring to item d, 3 per member per month for communications, wellness, actuary work, paid 90 to 100 by the employer. Right. So, the way the footnote is to point out a couple things. Number one, that refers to the health care Sustainability Fund and the applicable uses per charter are wellness, to reduce the cost of health care, and communications. That is baked into the premiums and the amount that each people pay, so its 3 per member per month is moved over and that is used for these items. The point of saying 100 90 to 100 paid by the employer is that to the extent that the premiums are funded with various contribution models, that, too, is reflected in terms of the the health care Sustainability Fund. Its its a little convoluted in terms of the way that is stated and i will be more than happen to clarify that in future reports. Yes, because i cant imagine the employers paying 100 of this, 3 per member per month is coming out of their checks. I i agree with you on that statement. I as i said, this is a convoluted way of stating it. So if if the premium, so, you are a member of sciu for instance. 100 paid by the employer. When since the 3, its baked into the premium, the 100 is paid by the employer. And therefore, it is an accurate statement to say that thats paid for by the employer. We dont charge the individual because the individual has negotiated in the Union Negotiation to have their full benefits paid for by the employer. For certain union, right . Only a few of the unions are still on that, and only a few unions are still on the 90 10. Most of the unions have gone to the 93 939383. So in the charter, for the charter amendment, the wellness, that is a wellness comes out of the trust. Right . Wellness comes out of the trust, to the extent that the wellness is, benefits all four employers. So, if, you know, if we are doing something thats solely for City Employees only and the reti retirees are not participating and employees are not participating, we dont use that source of money. We did a look who is benefitting from the Wellness Programs, moved over to the general fund, we are relooking at that, and partially based on necessity, partially based on ensuring that we are budgeting in the right place, you know, and reusing the funds in a fiduciary fashion, we are looking in that. But not we cant put 100 of the wellness on the Sustainability Fund if that activity is not offered to everyone. Ok. I think i need a little tutorial in this whole section here. A lot of this does not make sense to me. Ok. And i would ask that maybe director levin, that maybe there be as we are preparing the budget, for budget review, that we incorporate into that some of these descriptors of sources of funding and how they can be utilitilized and so forth. I know we did that a few years ago, and it passes memory, in terms of the details of it. So, i would ask as we are preparing this years budget cycle and related documents, that we call it a glossary or reference notes or whatever, so we have a birds eye view, not overwhelming detail, but birds eye view and sources of funding and utilization. All right. Any other questions from the board . All right. Any Public Comment on the Financial Report . Hearing and seeing none, now go to the next discussion item. Item 6, review of the Health Service system, fiscal year 201819, and fiscal year 201920, budget instruction, pamela levin. Pamela levin, chief financial officer. I am glad we already started thinking on the lines of the budget. I just want to quickly go over what our instructions are and talk a little about the next steps. So, last month the Mayors Office released the 201819 and 1920 budget instructions. As you know, we are on a twoyear budget cycle and we do two budgets. These instructions are for our General Fund Budget and we also present our Health Care Sustainability budget. And all that will come to you next month. The instructions were in response to the deficits from the fiveyear Financial Plan for 1819 through 2122. Deficit for 1819, 88. 2 million, and 173. 4 million in 1920. And its based on current operation levels and estimated revenues. While this is a significantly lower amount than we have had in previous years, its starting to increase again. So the plan has an increase in revenues but they are not growing fast enough to keep pace with the increases in expenditures. The projected deficit is primarily driven by increases in wages. Employer pension contributions and Rising Health costs. Other areas are voter approved baselines and setasides with spending requirements. And shifting of the inhome support services from the state to the city. Areas of uncertainties that could impact the citys financial conditions are Economic Issues such as recession, state and federal budget impacts, collective Bargaining Agreement negotiations, i think we have 40 or so negotiations for 2019 to impact the next year. Service levels associated with the citys growth and employment, and then of course new General Fund Budgetary commitments by the board of supervisors and supplemental appropriations. Mayors budget instructions, first, departments ongoing reductions equal to 2. 5 of the general fund support. Reductions in 1819, must be ongoing reductions, continue to 1920. And additional 2. 5 reduction is required in 1920. So, you have a cumulative 5 proposal over the two years, and the direction is to make it ongoing. The value of the reduction for our department is 84,000 in the first year, and in the second year, 84,000 plus another 84,000, so its roughly 168,000. As an aside, when we were here last year, we had to propose a reduction, a twoyear reduction, which basically reduced our budget by around 80,000. So going into the preparation for 1819, we are already 80,000 less than we were two years ago without any growth in operations. That makes the balancing tricky, and we have to be very strategic in what we do. The good thing is, when we proposed in the second year for 1819 last year, we had the only way we could balance was to cut the Wellness Program significantly. The Mayors Office did not accept those cuts and instead reaffirmed their commitment to funding in the general fund wellness. The second instruction is departments are maintained the current level of budgeted and funded f. T. E. Accounts, f. T. E. Lessee attrition. Funding is provided for the anticipated cost of living increases for most employees, in line with the c. P. I. The third is departments should consider longterm savings and cost avoidance initiatives. Fourth, align with the following vision areas outlined in the citywide Strategic Plan. They are resident and families that thrive, clean, safe and livable communities, diverse equitable and inclusive city. Excellent city services. And a city and region prepared for the future. Most of what our department does is related to city services, if we can attract and retain employees, of which our benefits are part of, we dont need that, strategic principle. The other instructions are participate in the citys Talent Development programs. Foster Community Engagement in the Budget Development process. Consider independent reviews and audits when developing the budget submissions. And the next steps are on february 8th, we will be presenting the proposed 1819, and 1920 budget for your approval. The key of the date is that by charter we have to turn in our budget on february 21st, and therefore, without having a special meeting in february to go over the budget we will present the budget. My plan is that we will present the budget to the Mayors Office and with the caveat that the executive director has not had a chance to spend a lot of time with our department, in fact, i believe you said the starting date was on the 12th of february. And as you know, we do go through a long period of time in which the budget is in the Mayors Office purview, which has in the past given us some leeway to make some reorganizations within that. And then also on the 8th ill present the health care Sustainability Fund. That is not approved by the board of supervisors, only approved by this board. I present it at the same time so you can see how they intermix, but that, too, can be brought up again in another month. Are there any questions . Any questions of director levin regarding the budget, budgetary process, what well be going through . So, the board will hear this as a committee as a whole, in terms of the recommendations around the budget. Budget process at the next meeting. And commissioner sass is chair of the finance committee will preside over that part of the meeting. Thats a commitment im making on your behalf. Thank you. Is there any Public Comment on this . Hearing and seeing no Public Comment, well now go to the next item. Item 7, discussion item, presentation of 2018 rates and benefits calendar for plan year 2019, acting executive director griggs. Before director griggs begins, i want to remind folks of the process. We used to have a Standing Committee on rates and benefits. We no longer have that in our governance structure. This board acts as the committee of the whole as we deal with rates and benefits. And hence, we are now out of our general board meeting, and acting as the committee as a whole on rates and benefits. Its the same people, we have not changed places or positions. Director griggs. Thank you, president scott. I believe you have the calendar in front of you. At this time its pretty standard as far as year over year. At least recent years. One addition later on ill get to. Starting in february, february 8th meeting, blackout notice will be presented. Can you give a brief description counsel, what the blackout notice is . Counsel. Once the blackout notice goes into effect, commissioners are not supposed to have communications with the vendors. Existing vendors or potential vendors. Potential vendors. All right. Restrictions on our communications as commissioners with the vendors. Usually are existing unless we are doing an r. F. P. In addition, well be reviewing for you and presenting the fees, and stablization reserve. A presentation on copay benchmarking, copay, deductible and compare them against other Government Entities and private sectors, too, i believe included. Then in march, 8 early board meetings of the month. Well present for your approval the ten county average amount. Also well bring you stop loss recommendation for the selffunded plans. The blue shield flex funded nonmedicare review of claims experience. As well as blue shield stablization reserve and the best doctors for renewal for your approval. April meeting, well have the risk scores available for your review. Also do a health value initiative. This is where we take our cost, our total contributions and premiums and compare them again to the private sector and certain large employers and other Public Sector employer groups. Well also take a look at the city plan nonmedicare selfinsured to approve the premium contributions for 2019, so thats city plan nonmedicare. Thats the first early retiree and active Employee Health plan that we are approving the benefits for. Also review, or youll review for the approval of dental, vision and aetna renewal during that month. In the may meeting, kaiser permanente, and blue shield, the rest of the nonmedicare plans. Reviewing their premiums for your approval. And then in june, looking at Medicare Advantage plans, kaiser permanente, senior advantage, for proof of rates and premium contributions for those, and this is the new item, to appear the first time on the rates and benefits calendar, we will be presenting the multiregion, kaiser multiregion, early retiree and medicare eligible plans for rate renewal. Again, that was another popular well received addition for 2018. Just as reminder, the reason we have the calendars and the reasons we have to stay on schedule is that we have to present these, have to be presented initially to the board of supervisors, rates and benefits committee and then to the full board of supervisors in july, we dont have the dates yet, but they will be forth coming. Are there questions of director griggs . Regarding the rates and benefits calendar . It has a very familiar ring. I thought we just did this. Time flies when you are having fun. Ok. All right. Any Public Comment . Hearing and seeing none, well go to the next item. Item 8 discussion item. Review fund status for the incurred but not reported ibnr reserve for u. H. C. And blue shield. I have been sitting here about an hour and a half, and the mind can only endure what the end can support. So, i would like to declare a fiveminute recess. Let me do that, all right . Thank our colleagues for their patience and indulgence of my personal proclivity of not sitting in one place for an hour and a half. Please identify yourself and well proceed with this discussion item. Thank you. Mike clark with aon. Good afternoon. The first of the presentations on reserving will talk about the incurred but not reported reserve that each plan that is selffunded or flexfunded has within the systems programs. So incurred but not reported ibnr reserve, estimate of unpaid claim liability for claims where services are incurred on or before a certain date, but not yet paid until after that date. And for the plans we do our calculations on a fiscal year basis, that date is june 30th, the last date of the fiscal year. What ill be presenting on today are calculations involving claims where services are incurred on or before june 30, 2017, but not paid until and or after july 1, 2017. So if we turn the page you will see the table of our calculations for the recommended ibnr reserve for 2017, june, selffunded or flexfunded. U. H. C. City plan, delta dental of california p. P. O. Dental plan for active employee participants and the blue shield of California Health plan. In particular, you will see overall a reduction in the projected ibnr reserve of about 1. 6 million. And most of that being attributable to the change in the u. H. C. City plan. All of these reserves are fully funded, and particular with the u. H. C. City plan, a key driver of the reduction, as of june 30, 2016, the reserves were required with the change over to full funding on january 1, 2017, we look at the june 30, 2017, figures, you no longer need to hold reserves on the fully funded program. So, therefore that is a key reason for the substantial reduction on the u. H. C. City plan. And we will reset these reserves again as of june 30, 2018, after the close of the current fiscal year. Are there questions by members of the board recording the ibnr reserve . So, why do we have to do this . Its required that you carry the liability to protect the ability to pay the claims that are incurred as of a certain date, but not yet paid by the plan. Thank you. Many times people see money in a savings account and say well, i guess i can spend that, too. And the case, thats not the case here. So we, being prudent and what we are doing, we are projecting these as estimates so we can play these claims as they are submitted to us. Ok, thank you, mike. Absolutely. Any other questions from the board, any Public Comment . Hearing and seeing none, well go to the next item. Item 9 discussion item, review fund status for contingency reserves. Mike clark, aon hewitt. The second of my presentations address the contingency reserve. And that for each selffunded plan is a reserve that protects against shortfalls, potential shortfalls and funding estimates. They could occur if actual claims occur over a plan year or higher if who was projected when the premium were developed, and could cause a difference between actual expenses and revenues collected. So, this presentation will review the contingency reserve status, as of the end of the prior fiscal year, for each of the selffunded and flexfunded health plans. As you can see on the table, on page three, the u. H. C. City plan, we are recommending a contingency reserve of approximately 5. 5 million. For the delta dental plan of california, active employee p. P. O. Plan, about 3. 1 million. And blue shield of california, about 13. 3 million. For a total of just under 22 million as of june 30, 2017. This is a reduction in our contingency reserve calculations for each of the three programs, from what we had calculated as of june 30, 2016. Now, all of these reserves are again currently fully funded, and we do account for the change in contingency reserve into the calculation of plain stablization. So in the next couple months ill discuss the reserve status with you and how the contingency reserve impacts the claim stablization reserve. In particular on the change, youll note the u. H. C. City plan overall stayed relatively stable. We had the reduction attributable to medical retirees, coming out of the need to be reserved for because of the change in the fully funded status effective january 1, 2017. We did have some offsetting increases in the contingency reserves for active employees and early retirees in the u. H. C. City plan, in part because of the growth of the head count of those programs. Just so happens they relatively net out, but there were some change dynamics occurring between the active early retiree populations and the medicare retirees. Delta dental plan of california, primarily the claim variances stablized somewhat, so in the methodology, that created a reduction in the needed contingency reserves. And then for blue shield of california, we had the elimination of the medicare retirees, that contributed to the reduction on the blue shield of california plan. So, like with the ibnr reserves, we will reset these calculations as of june 30, 2018, at the close of the next fiscal year. Any questions from members of the board. Commissioner sass. Im trying to recall the discussion around u. H. C. In 2018. I know we were basically utilizing Stablization Funds to main to offset the additional cost. Im not sure i recall that we would be exhausting the Contingency Fund as well, the last sentence on that. That does not ring a bell with me. It could be my own memory. Thats actually not the case. So, i had originally had prior discussion, thats not the case. Not the case, not accurate. Stablization reserves, apology. Surprised to see that. So you are talking about the line that says contingency reserved for u. H. C. To be 0. Yes, thats not correct. I thought thats what we expected. Stablization, not contingency. I will address the stablization reserve next month in some of the early information provided. Just for the record, then, im going to suggest this slide be amended and reposted. So that we dont have that lingering out there for a month, if that sentence needs to be removed or edited in any way, we rely on you guys to give us the right wording, to amend the slide than we have it posted correctly. Lani, did you have a comment . I was just going to say that you have the corrected version, hard copy, and its going to be posted after the meeting, the correct version. It will be corrected on the website. I call the boards attention to that. We were handed, and now in my stack of papers, i cant find it, a corrected edited ok. And thats the one that will be posted. Thats correct. Thank you. All right. So, let me ask you, too, like and anybody else. Is this a high reserve for the blue shield flexfunded plan . Are we always subsidizing the flexfunded plan . Reserve calculations for ibnr and contingency reserves are consistent across all three of these programs. So, the the methodologies produce figures that again are consistent methodology, and i will address the Stablization Fund next month for the u. H. C. Plan and additional plans. Those particular funds are tracked based on those programs and i know that decisions have been made to apply certain elements of Stablization Funds differently to different plans over the past year or two. I will be addressing that with the board in february and march. Director levin, do you have something to add at this point in this query . Yes, so, there are two Different Reasons why we have these reserves. So, stablization is so we can buy down and stabilize the rates and present a major migration and keep the plans so we have some competition. Contingency reserve is for a catastrophic situation. So, lets say, i mean thats the way i understand it, simple terms. He can explain it in other terms. But lets say we had a the flu thats going around right now, thats started really impacting peoples health. Lets say that that became a huge problem. And overwhelmed blue shield. We would want to have the contingency there for those kinds of catastrophic. So, and in doing the calculation, mike will be able to kind of go through, but in terms of the use and why we have it, its totally different. All right. So, just in summary, the incurred about you not paid claims reserve is there to pay claims that we know have been incurred but have not been paid. Ibnr. Then we have a contingency reserve set up specifically to take care of catastrophic circumstances. That is correct. And theres a statistical formula behind how we calculate contingency reserves. And its consistently applied across all three. And the third bucket of money over here is the Stablization Fund, and applying and utilizing those funds to keep rates reasonable for our members and to manage, if you will, the overall participation in various plans. Correct. And all of these are broad board policies that this board has set up and reviewed. The statements of which are, i believe, online, or certainly within our terms of governance so they are there for anybody who wants to look at them and kind of see what is this money being used for kind of thing, ok. Just an educational moment, kind of a public thank you,