Westport schools' health insurance financing gets high marks
As top town officials continue to scrutinize public employee benefits packages, the Westport school district is outpacing other area school systems in savings on education workers' health-care costs, according to one of the town's insurance consultants.
The school district's conversion in September 2010 from Anthem Blue Cross to Cigna as its employee health-insurance provider catalyzed a series of savings, said Robert Pernicka , senior vice president of the Segal Co. during a Tuesday presentation to the Board of Education and Board of Finance
Switching school employee insurance from Anthem Blue Cross to Cigna coverage has saved the district approximately $700,000, Pernicka said. Cigna's negotiation of greater discounts with hospitals contributed to those cost efficiencies, he added.
"Cigna provides the same level of benefits for a better price," Pernicka said of the school district's switch.
Employee health benefits annually comprise a major share of the Board of Education's operating budget. This year's budget allocates about $12.65 million for employee health-insurance, which accounts for about 13 percent of 2011-12 operational education spending.
Health-insurance spending in Superintendent of Schools Elliott Landon's proposed 2012-13 budget would increase by less than 1 percent to $12.75 million.
During the last three years, school employees' claims have risen by an annual average of about 3 percent, Pernicka said. Other comparable public sector health-care plans, he added, had experienced average claims increases of 8 to 9 percent during the last three years.
"You've been aggressive in negotiations," Pernicka added. "You probably have some of the highest co-pays for municipal groups for prescription drugs. You've taken steps in cost-sharing with employees in plan design. "
A lack of "catastrophic" or high-cost claims incurred by the school district had also helped to limit the school district's health-care expenditures, Pernicka said.
High Limit Health Insurance - News
You've taken steps in cost-sharing with employees in plan design. " A lack of "catastrophic" or high-cost claims incurred by the school district had also helped to limit the school district's health-care expenditures, Pernicka said.
Once the town reaches the $1500 limit for an individual, or $3000 for a family, the town would no longer have to pay if more medical care is needed. “This option could save the town up to $94000,” Lavoie continued. “That could very well save three or
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How do health insurance companies that write high risk cases make ...
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