Norwood budget panel flags 10.5% health‑insurance projection, $9 million shortfall; sets budget targets for schools and town

At a Feb. 6 meeting of the Budget Balancing Committee in the Town of Norwood, members were told health insurance costs are likely to increase to about 10.5% for the coming year — up from an 8% assumption — which would add roughly $467,000 to the town’s shared costs and widen a projected shortfall to about $8.8 million to $9 million.

The panel, which reviewed updated shared‑cost estimates from staff, agreed on a framework for next budget steps: allow contractual obligations for general government, fund transportation and contractual obligations for schools, and cap additional school staffing at up to five full‑time equivalents (FTEs) as the committee and school leaders model reductions and priorities.

The numbers under discussion showed the town’s 8% health‑insurance projection equaled about a $1,493,963 increase from the prior year; staff told the committee that each percentage point change is roughly $187,000. Committee members and staff calculated that a move from 8% to about 10.5% — a 2.5 percentage‑point change — would add about $467,000 to shared costs.

"It is a big chunk of budget," Maya,…