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Rising health‑benefit costs push state and local plans toward plan‑design debate; local government section faces acute pressure
Summary
Treasury officials said state employee health benefit plans are experiencing double‑digit rate pressures and that the local government section of the State Health Benefits Plan (SHBP) may see well‑above‑20% increases for plan year 2026, prompting calls to address plan design and risk‑pool stability.
Treasury officials and plan administrators told the committee the State Health Benefits Plan and the School Employees Health Benefits Plan are facing sharp cost pressures that could cause double‑digit premium increases for 2026, driven by increasing drug costs and utilization.
The Treasurer said actuaries are projecting “increases in the SHBP local government section that will likely be well above 20% for plan year 2026,” and that the state has posted a study…
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