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Fall River plans audit, transfer to plug roughly $2.3M health-insurance shortfall in FY2026 budget
Summary
Interim Finance Director Emily Arp and Gallagher consultants told the City Council Committee on Finance the employer health trust fund faces a multi-year shortfall; the administration proposes a $2.0M transfer and a detailed audit while increasing FY2026 health appropriations.
Interim Finance Director Emily Arp told the Fall River City Council Committee on Finance on June 11 that revised FY2026 health-insurance estimates require changes to how the city funds its employer trust fund.
Arp said the administration proposed using an anticipated $2.0 million transfer to raise the trust fund balance while ordering a detailed audit of the employer trust fund to “make sure that everything in the account is operating the way it should.” Diane LaFlaiche, a consultant with Gallagher, told the committee Gallagher’s projection for plan cost increases was 8.5 percent.
The committee heard repeated testimony that the employer trust fund has been underfunded in prior years and that the current shortfall was the result. “Over the years what has happened with our trust fund is that the city didn’t put enough into [the] trust fund,” said a council member during discussion, noting the gap has been…
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