§ 11-10. Gain and Loss Statement.

(a) In general.

Once a year, the City shall provide a good faith operating gain and loss statement for:

(1) each self-insured health benefit plan;

(2) each insured health benefit plan; and

(3) any other plan offered by the City under the Program.

(b) Form and time line.

The gain and loss statement required under subsection (a) of this section shall be:

(1) provided following the close of each plan year;

(2) provided on or before May 30;

(3) consistent with the GAAP adopted under the rules of GASB; and

(4) provided to the exclusive employee organizations, MAPS, retirees and their consultant.

The gain and loss statement required under subsection (a) of this section shall account for all premium equivalents of the plan for the benefit year, as compared to expenditures for the plan, which include:

(1) estimated incurred claims;

(2) premiums paid;

(3) administrative fees;

(4) network fees;

(5) any other fees; and

(6) any taxes.

(d) Supporting materials.

(1) In general.

If requested by the exclusive employee organizations, MAPS, and retirees, the City shall provide the documents, information, and data considered to prepare the gains and losses statement required under subsection (a) of this section to:

(i) exclusive employee organizations;

(ii) MAPS;

(iii) retirees; and

(iv) their consultant.

(2) Separate disclosures.

To the extent that such information is collected in the ordinary course of business, the supporting materials shall include separate disclosures of revenues, claims, and expenses for:

(i) exclusive employee organizations;

(ii) MAPS;

(iii) retirees; and

(iv) their consultant.