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Self-Funded Health Insurance Plan
12 Months Ended
Dec. 31, 2014
Self-Funded Health Insurance Plan [Abstract]  
Self-Funded Health Insurance Plan

NOTE 16           Self-Funded Health Insurance Plan

 

PSB has established an employee medical benefit plan to self-insure claims up to $105 per year during 2014 and 2015 for each individual with no stop-loss per year for participants in the aggregate. PSB and its covered employees contribute to the fund to pay the claims and stop-loss premiums. Medical benefit plan costs are expensed as incurred. The liability recognized for claims incurred but not yet paid was $77 as of December 31, 2014 and 2013. Health and dental insurance expense recorded in 2014, 2013, and 2012, was $925, $1,130, and $1,078, respectively.