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Insurance broker tells Hillside board he can cut district health costs; union asks about Jan. 1 coverage
Summary
An insurance broker from Brown & Brown urged the board to re-bid stop-loss and pharmacy contracts to save an estimated $500,000–$1 million; the union president asked whether changes would affect employee coverage ahead of Jan. 1 and was told members’ coverage would not be impacted while the market is explored.
An outside broker told the Hillside Public School District Board of Education on Dec. 19 that the district could save hundreds of thousands of dollars on its health-plan reinsurance and pharmacy spend by re-bidding the account.
Jacob Krakauer, identifying himself as an insurance broker with Brown and Brown, told the board he reviewed numbers on the meeting agenda and said the district’s stop-loss premium and prescription costs had increased substantially since Brown…
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