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Officials ask House appropriations to approve $18.5M general‑fund transfer to stabilize state employee medical insurance fund
Summary
Finance and Human Resources officials told the House Appropriations Committee the state plans to transfer $18.5 million to the self‑insured medical insurance fund to reduce a roughly $40 million deficit and avoid a larger premium increase for employees next year.
Adam Gresham, commissioner of Finance and Management, told the House Appropriations Committee on Jan. 29 that the administration included an $18.5 million general‑fund transfer to the state’s medical insurance fund in the proposed budget adjustment act to address a growing deficit.
“We didn't have there were really 2 choices. 1, we could do it the old fashioned way ... or we could fill it through a general fund transfer,” Gresham said, explaining that without the transfer the state likely would have to raise premiums further to cover claims. The commissioner said spreading the cost through premiums would shift some of the burden to employees and to other…
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