Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Virginia Beach schools projected to draw health fund down; board weighs employee premium increases
Summary
Mercer presented health-plan projections showing a projected drawdown of the division's health fund and scenarios that would shift costs to employees in 5% increments (each ~ $900,000). Board members pressed for a single "bottom-line" metric and discussed options to rebuild reserves.
Mercer told the Virginia Beach School Board on Feb. 10 that the division's health fund is projected to draw down in the short term and may require changes to employer or employee contributions to rebuild reserves.
"We're expecting the health fund to draw down with the experience in December, an additional 1,900,000.0, leaving a health fund balance at 11,500,000.0," the Mercer presenter said while reviewing data through Nov. 30, 2025. Mercer's projection shows a projected drawdown of $7,800,000 in 2026 leaving an estimated balance of $9,600,000 and a projected 2027 gross cost near $140,200,000 under one scenario.
The firm modeled multiple scenarios for 2027. One preserves the current…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
