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Board warns of 28% spike in health‑insurance costs, eyes options to cover roughly $360,000 shortfall
Summary
The Hardyston Township Board of Education heard from its finance committee that health‑insurance premiums may rise about 28%—roughly $560,000 in new costs—leaving an estimated $360,000 funding gap; the committee said it will consult brokers and seek state offsets before decisions are required in January.
The Hardyston Township Board of Education was told Oct. 14 that district health‑insurance premiums could rise about 28% next year, creating an estimated $360,000 shortfall in the operating budget.
A finance committee member reported the district expects roughly $560,000 in additional premium spending. “We anticipate a 28% increase in premium spending for next year—that’s probably close to $560,000 in new expenditures,” the committee member said, and added that even using the board’s 2% tax levy cap would leave a substantial gap.
The committee member said the board will ask its insurance broker for options to reduce costs and will pursue state funding that might offset part of the increase. The committee expects more information by January and said formal budget decisions will follow once those options are clearer.
Board members did not take final action on the health‑insurance issue at the meeting; the committee framed the update as an early warning and described next steps, including a broker review and a search for state funds to lessen the burden on the local budget.
