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School board approves higher‑deductible stop‑loss option after long debate on risk and savings
Summary
Trustees approved Option 2 (Izzy) for stop‑loss insurance, a higher‑deductible plan that saves roughly $94,000 this year but carries added exposure; the health advisory committee had recommended staying with WellPoint (formerly Granular) at the $275,000 specific deductible, but trustees voted to adopt Option 2 after discussing fund balance and claim history.
The board voted to adopt a higher‑deductible stop‑loss insurance option (referred to in materials as Option 2 with Izzy/ISSI). Presenters explained the district’s specific stop‑loss deductible is $275,000: once a single claim exceeds that amount, the stop‑loss carrier reimburses the district for the excess. Historical data presented showed an average of about 2.6 stop‑loss claims per year over seven years and inconsistent outlier…
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