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City insurance briefing: self-funded health plan running deficits; property and cyber coverage stable
Summary
Higgins Insurance told Hopkinsville council the city's long-running self‑insured health plan ran a per-employee deficit in 2024, prompting staff to recommend budgeting additional employer contributions; property/casualty and cyber insurance renewals held but law-enforcement liability remains a pressured market.
Mac Major, partner at Higgins Insurance, told the Committee of the Whole that the City of Hopkinsville operates a self‑insured health plan administered by Anthem and reinsured for catastrophic loss. "This is the most cost effective way to fund the health plan," Major said, but he warned the city ran a significant funding gap in 2024: "we funded $708 $978 per employee per month, which creates a deficit spending of about $246 per employee per month." (Major presented annualized figures for fixed costs and claims.)
Major said the city finished 2024 with about $403,000 in reserves; January 2025 showed a small increase but the trend over three years created multi‑hundred‑thousand‑dollar deficits that had been…
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