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Brown & Brown warns Little Egg Harbor Township of steep health-insurance costs, recommends 20% budget increase
Summary
At the board meeting, Mike Morrow of Brown & Brown told the Little Egg Harbor Township Board that rising specialty-prescription and a few very large medical claims drove a sharp increase in the district’s loss ratio and recommended a conservative 20% health‑insurance budget estimate while the district awaits Blue Cross renewal numbers.
Mike Morrow, a broker with Brown & Brown, told the Little Egg Harbor Township Board of Education that the district’s health‑insurance costs are rising sharply and urged the board to budget conservatively for next year.
“We’re recommending a new budget number of 20%,” Morrow said, citing a combination of large medical claimants and rapidly rising prescription costs. He told the board that through November the district had about $400,000 in paid claims tied to GLP‑1 weight‑loss medications and that figure rose to roughly $460,000 in December. “Those GLP‑1 weight‑loss drugs are now accounting for about 26% of your overall spend,” he said.
Nut graf: The briefing arrived during budget season and followed Brown & Brown’s review of the district’s first 11 months of claims, which the broker said produced an…
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