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Board hears spike in stop-loss costs, pharmacy claims as insurance renewal rises 49%
Summary
Board members were briefed on a 49% increase in the city’s excess insurance renewal tied to a large stop-loss claim and rising pharmacy costs; staff said the city remains self-funded and will pursue options but did not propose a change at the meeting.
Forest Bridge city staff told the Board of Directors on Oct. 21 that the city’s excess insurance (stop-loss) renewal has increased by about 49 percent amid a recent high-dollar claim and rising pharmacy expenditures.
Director comments during the meeting flagged the insurer listed as Everest Reinsurance Company and asked whether the board had alternatives…
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