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Hamilton County board hears quarterly health-plan update as costs outpace budget; retiree coverage changes proposed
Summary
Finance and benefits staff told the board the district's health plan ran at just over $86 million last year versus a $91.5 million budget this year; per-employee costs rose ~7.2% and a $566,000 claim skewed first-quarter results. Staff previewed a new PBM to take effect Jan. 1 and proposed tightening retiree eligibility.
Penny Murray and the district's broker presented the quarterly benefits update to the Hamilton County School Board, reporting that last year's health plan expenditures ran at just over $86,000,000 while the current-year budget is about $91.5 million.
From a utilization standpoint, the presenters said per-employee-per-month costs increased about 7.2% year over year and pharmacy continues to be the largest cost driver. The broker said a single large claim of $566,000 occurred in the first quarter…
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