We recommend that the OCFO implement written policies and procedures over the trust fund management and premium payment processes in accordance with the GAO Green Book, including but not limited to: Approval and payment of funds to the carriers via ACH. Approval and transfer of funds from the contingency reserve to the Letter of Credit system. Approval and transfer of funds from the contingency reserve to the FEHBP carriers via ACH. Explanations for the securities, maturity, and investment due dates for the FEHBP trust fund. Supervisory activities over trust fund management and premium payment processes activities. The TFM office's succession/contingency plans.
Questioned Costs
$0
Funds for Better Use
$0
Recommendation Status
Open
Source UUID
a61cb58b-ec11-47e2-9865-36e0ddbd856a-2
Recommendation Number
2
Significant Recommendation
No