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Committee warned of growing health-insurance claims and risk-fund shortfall
Summary
Staff reported an $804,445 overrun in health-care claims in the first six months of FY26, leaving the risk-management fund with a reduced reserve and prompting staff to recommend exploring cost-sharing, premium adjustments or stop-loss recoveries before FY27.
City staff told the Finance Committee on Jan. 15 that rising prescription and health-care claims have driven the risk-management fund toward a shortfall. "So but $804,445 over what we budgeted for insurance just in the first 6 months since July," an attendee said during the meeting, summarizing staff data on claim costs.
Kim Kaufman, the budget manager, and other staff explained…
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