annual audit of kansas self-insurance pools
most pools staying afloat,
two remain underwater
S
elf-funded pools in Kansas are staying afloat with
some generating more profit than others this
last fiscal year. Collectively, the 16 pools brought
in more than $66 million in premiums and
paid out more than $61 million in claims and expenses,
according to the latest audited financials. Two of the pools
– the Kansas Employers Workers Compensation Fund
and the Medicalodges Affiliates Pool – continue to carry a
negative fund balance.
profits & fund balances
Fund balances grew for the majority of Kansas pools this
past fiscal year. Specifically, 12 of the 16 pools reported
an increase in their balances. Of those, seven were private
pools and five were public entity pools. Among the private
pools, the Kansas Hospital Association (KHA) Workers
Compensation Fund saw the largest increase in its fund
balance with a profit of $951,810 for the year. Among
the public entity pools, the Kansas County Association
Multiline Pool realized the largest gains with more than
$2.05 million in profit. Four pools reported losses for
12
the year, the most significant being the Kansas Building
Industry Workers Compensation Fund’s loss of more than
$1.1 million. The other losses were incurred by the Kansas
Eastern Region Insurance Trust ($91,343), Medicalodges
Fund ($2,291) and the Kansas Employers Workers
Compensation Fund ($65,955).
expenses
Despite increased fund balances, nine of the pools
experienced increased expenses. The Kansas Building
Industry Fund reported the highest expenses among the
private pools with more than $11.99 million. The Midwest
Public Risk Pool had the highest expenses among the
public entity pools at $7.35 million.
dividends
Over the last year, seven of the pools paid dividends
totaling more than $2.99 million, nearly double the
$1.5 million in dividends paid out the prior year. Kansas
Livestock Association Risk Mana