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carriers' final approval. At this time a Medicare Set -Aside for future medical expenses is not needed based on claimant's age. The settlement will be broken down by claim with $85,000 to settle the knee claim on February 22, 2006, and $40,000 to settle the hypertension claim on 03/02/2014, as well as satisfying all previously closed WC claims. The February 22, 2006, knee claim has a $400,000 SIR with a current amount paid of $392,968.03. Indian River County would be responsible for an additional $7,031.97 to reach the SIR threshold, and the excess carrier would then reimburse the County $77,968.03 of the $85,000 settlement amount. Therefore, Indian River County would only pay a total of $47,031.97 of the $125,000 total settlement amount. The County has received approval from the excess carrier to settle both claims accordingly. Following mediation, the contingent settlement of $125,000 was reviewed by John Titkanich, Susan Prado, Christopher Hicks, Elise Kriss, Cynthia Stanton, and Nathan McCollum. All agreed the County should move forward with the proposed settlement amount. FUNDING: The final settlement in the amount of $125,000 will be paid out of the Self -Insurance Fund/Risk Management/Workers Compensation account, number 50224619-012140 with an anticipated reimbursement of $77,968.03 from the excess carrier. Account Description Account Number Amount Self -Insurance Fund/Risk Management/Workers Compensation Account (Expense) 50224619-012140 $125,000.00 Self Insurance Fund/Reimbursements (Revenue) 502038-369940 $77,968.03 Net Cost $47,031.97 RECOMMENDATION: This claim was evaluated by the County's defense counsel, excess carrier, and the County staff listed above; and it is recommended that the Board of County Commissioners approve the final settlement of $125,000 to resolve this claim. 153