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Committee hears student accident-insurance claim experience and savings from self-insuring
Summary
Finance staff reported claims payouts and administration costs for a self-insured student accident insurance program and said the district saved roughly $60,000 compared with prior premiums.
Committee members reviewed student accident insurance claims and were told the district’s move to a self-insured model produced administrative savings in the most recent 12-month period.
Mister Curtis told the committee that payouts and administrative fees over the past 12 months totaled a little over $60,000 (roughly $31,000 in claims plus about $30,000 paid to Gulf South to administer the program). He said the premium the district would have paid under the previous arrangement was $182,000, producing approximately $60,000 in savings by self-insuring.
Curtis noted there is a processing lag between when a student receives care and when claims clear, so some reported amounts will carry forward into the next fiscal year. Committee members asked whether seasonal activities—such as football—were fully captured in the report; the presenter said reports over the summer show seasonal patterns of claims.
The committee received the report; there was no formal vote.
