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Commissioner warns county to prepare for higher premiums after risk-pool failed two audits
Summary
Commissioner Sean Roey reported the county's risk pool failed two financial audits and warned that the pool may not be able to pay all claims; he said the pool added board members and a lobbyist and expects premium-setting discussions in October, urging counties to plan for increased costs or legislative action.
Commissioner Sean Roey summarized a biannual risk-pool conference packet that, he said, showed two failed financial audits and a warning that the risk pool has the "possibility of not being able to pay all the claims that they have." He said the pool has added two new member counties, elected new board members and retained a lobbyist, and that staff will revisit premium-setting at the October meeting when increases will be considered.
Roey said counties must begin planning for where additional premium dollars would come from and that, absent legislative changes, the pool's viability is uncertain. He said one mitigation option is increased premiums and that the county will monitor developments; commissioners were told there were no immediate requests for raises to be covered by the pool at this meeting, but that budget impacts are likely in the months ahead.
