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Healthcare update: Palisades SD reports $1.3M fund balance, monitors stop-loss shortfall
Summary
District staff reported a current healthcare fund balance of $1.3 million, noted the consortium stop-loss pool was underfunded this year and may produce a modest reconciliation (district exposure estimated ~ $0.1M historically), and described limited uptake for a new high-cost plan in open enrollment.
At the fiscal committee meeting Zena and Dennis presented the healthcare pro forma and said the district's current fund balance is a "healthy $1.3 million." They warned that the consortium stop-loss pool for the benefit program was underfunded this year and that, when reconciliations are complete at the end of June, consortium members could see a modest charge; the presenters said last year's district portion was about $100,000 and staff currently expect a similar small impact (the packet described an aggregate shortfall at the consortium level near $2 million).
Committee members asked for additional detail about plan migrations and the new high-tier plan (OC4). Dennis said only four employees selected the OC4 option in open enrollment and that many employees moved between OC1/OC2 tiers. The presenters also noted a potential, but unlikely, St. Luke's Hospital out-of-network notice that would affect some employees; staff said they would monitor any notices and communicate if the hospital changes network status.
The committee discussed stop-loss funding, the timing of reconciliations and potential budget effects; members asked for more detailed plan-mix counts and for staff to report back if any hospital notices are issued to employees.
