The Bossier Parish School Board approved a 4% renewal of its reinsurance policy with BCS at the July 17 meeting, retaining the district’s $400,000 self-insured deductible and continuing an experience refund rider the consultant said has returned premium this year.

Why it matters: The reinsurance covers catastrophic employee medical claims above the district’s $400,000 retention; changes in reinsurance terms affect the district’s exposure to extremely high-cost claims and the district’s annual premium expense.

Consultant Jason Allman summarized the history of the relationship with BCS, which the district selected in February 2021. He said prior moves to BCS had produced significant savings versus competitors and noted the program returned $185,000 in premium for a prior policy period and is expected to provide additional refunds for 2024. For the coming year, Allman recommended accepting a 4% premium increase (approximately $66,000) to maintain current protections, including the experience refund rider and a “no new laser guarantee,” which limits insurer imposition of higher individual deductibles (lasers) and caps increases to the reinsurance premium tied to such actions.

Motion and outcome: A motion to accept the BCS renewal was made by Glenn Bullard and seconded by Robert Bertrand; the board recorded “Motion passes.” The transcript does not record a roll-call tally.

Details stated in the meeting: Allman said the board holds the first $400,000 on claims for members and described the no-new-laser guarantee as capping additional reinsurance rate impacts and limiting insurer actions that would otherwise create higher liability for the district.

Next steps: The board accepted the consultant’s recommendation to renew with BCS at the $400,000 retention and 4% increase. No additional follow-up tasks were specified in the transcript, though Allman’s remarks anticipated continued monitoring of refunds and claim experience.