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St. Martin Parish Schools staff recommends staying self‑funded, accepting excess workers’ comp policy
Summary
District staff recommended keeping the St. Martin Parish Schools workers’ compensation program self‑funded and taking an excess insurance policy, saying fund balances and cost estimates make a full shift to a fully insured plan more expensive by hundreds of thousands of dollars.
St. Martin Parish Schools staff recommended the district remain on a self‑funded workers’ compensation plan while accepting an excess workers’ compensation policy, citing a current fund balance that helps absorb high‑claim years and a lower immediate cost than switching to a fully insured model.
The staff member presenting the analysis said the excess premium is coming in lower than last year (a figure cited approximately as $99.06) and recommended keeping the self‑funded approach while purchasing excess coverage to cap risk. "It is my recommendation that we stay as a self funded plan. It's, to our benefit," the staff member said.
Board member Mister Kofi moved to accept the recommendation. Board discussion focused on the district’s existing workers’ comp fund balance and how a switch to a fully insured plan would require an upfront premium payment that could be substantially higher. Speakers estimated the insured option could cost an additional $600,000–$700,000 initially and, factoring in run‑out liability, possibly approach $1,000,000 more over time than continuing the current model.
Supporters of staying self‑funded said the district’s fund balance has historically smoothed out poor‑claim years and reduces pressure on the general fund. The presenting staff member said the district would continue to monitor the trend and reevaluate if market conditions change.
No final roll‑call tally was recorded in the transcript for the motion; the record shows a motion to accept the staff recommendation was made and discussed.
