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Pasco schools face multimillion-dollar shortfall in self-insured health plan, officials say
Summary
District staff told the Pasco County School Board at a budget workshop that the district's self-insured employee health fund is projecting a significant shortfall and that officials are pursuing plan design changes and vendor/consultant options to rebuild reserves before next open-enrollment.
Tammy, a member of the district budget team, told the Pasco County School Board at a budget workshop that the district's self-insured health plan is experiencing a "very bad year" and that staff expect "about a $15,000,000 short fall." The district contributes about $8,801 per employee annually to the plan, and total annual expenditures for the plan are in excess of $100 million, Tammy said. The district's finance staff said pharmacy cost trends are the largest driver of increases this year, with employers seeing pharmaceutical trend rates in the 29—35% range; overall…
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