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Teachers Health Trust reports unqualified audit, debt repaid and new member benefits
Summary
Teachers Health Trust (THT) told the Board of School Trustees that it is debt free after repaying a $35 million prepayment from CCSD, reported an unqualified audit opinion for FY2024 and described benefit enhancements and oversight steps while trustees pressed for continued reporting and reserve targets.
Teachers Health Trust leadership told the Clark County School District board on March 27 that the health plan established for CCSD employees has regained financial stability after several difficult years.
Andrew Holmes, chief financial officer for Teachers Health Trust, presented the fiscal‑year‑ending June 30, 2024 audit results. He said the independent auditor, Holdsworth Russo and Company, issued an unqualified opinion for FY2024 and that, following actions taken since 2021, THT is debt free. Holmes told trustees the $35 million prepayment from the district had been repaid and THT held $22.5 million in reserves as of June 30, 2024; management also noted an incurred‑but‑not‑reported (IBNR) claims estimate near $30 million that, as of December 31,…
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