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Polk County schools' self‑funded health plan projects shortfall; officials outline options
Summary
District actuary and staff reported the self‑funded employee health plan was actuarially sound for the current year but remains below the Florida OIR 'safe harbor' reserve and projects deficits without changes; staff will bring options to committees and to the board for action.
Polk County School District officials told the board during a March 25 work session that the district's self‑funded employee health plan is actuarially sound for the current plan year but remains below the Florida Office of Insurance Regulation's (OIR) recommended reserve level and likely will require changes to remain solvent.
Actuarial consultant Jackie Walker told the board, “as of now, we are seeing that the self funded health plan for the current year and future projections is actually sound,” but added that the plan's reserve level remains short of the OIR “safe harbor,” defined locally as 60 days of claims.
The reporting showed the district ended 2023 with about $15.5 million in reserves and closed 2024 with an $18.1 million balance after a $2.6 million increase in surplus. The OIR 60‑day safe harbor was shown at roughly $24 million; the actuary calculated the…
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