Skip to main content
U.S. flag

An official website of the United States government

Official websites use .gov
A .gov website belongs to an official government organization in the United States.

Secure .gov websites use HTTPS
A lock ( ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.

Review of Unfunded Pension Costs of Blue Cross and Blue Shield of Florida

Issued on  | Posted on  | Report number: A-07-95-01126

Report Materials

EXECUTIVE SUMMARY:

This final report showed that Blue Cross and Blue Shield of Florida did not make contributions to the pension trust fund for Plan Years 1990 and 1991. Accordingly, Florida did not fund the pension costs identifiable with its Medicare segment for these years. In addition, the 1993 contribution did not fully fund the entire pension cost. As a result, accumulated unfunded pension costs increased by $4,049,889 to $6,428,087 as of January 1, 1994. Florida must separately identify and eliminate $6,428,087 from the amortization components of future pension costs. Florida agreed with the recommendations.


-
-
-