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Board approves move to self-funded health plan, seeds fund with $2 million and accepts maximum-rate proposal
Summary
The board voted 6–0 to approve 2026 health carriers and rates, including a transition to a self-funded model presented by staff and brokers; the corporation will seed the self-insurance fund with $2 million, employees will share roughly $1 million of the first-year premium increase, and stop-loss protections were described.
At the Sept. 22 meeting the New Albany-Floyd County Board of School Trustees approved the district’s proposal to change health-insurance arrangements for 2026 and to move toward a self-funded plan structure. The motion to approve carriers and rates passed on a recorded 6–0 vote.
District staff and broker representatives from Assured Partners explained the rationale for the shift: fully insured renewal bids from major carriers had included large rate increases, and a self-funded structure, coupled with targeted stop-loss insurance and a new pharmacy-benefit contract, offered more levers to control long-term costs, the presenters said.
Chris (staff member) summarized the financial plan. He said premiums paid to carriers would rise…
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