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Insurance premiums surge: health premiums up ~14.5% and property/liability premiums jump 31.8%, committee told
Summary
Finance staff told the Hooksett Budget Committee that health insurance premiums averaged a 14.5% increase this year (impact $466,880) and that property/liability premiums rose 31.8% (impact $85,000) after a CAP program ended and following two major claims.
The Budget Committee was told that health and liability insurance premium increases were a major driver behind recent upward adjustments to the town'recommended operating budget.
Finance Director Christine Tuxbury said health premiums rose an average of 14.5% and that the impact on the budget was roughly $466,880. "The premium came up an average of 14.5%, but we also had employees change plans. Right? So even though it went up 14.5% on average, the impact on the budget was more than 14.5. It was actually $466,880," she said.
Tuxbury also said dental premiums rose 4.4% but that changes in employee plan…
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