Becker's Healthcare August 7, 2024
North Carolina’s Treasurer Dale Folwell is warning that the state health plan could soon be facing insolvency.
The plan that provides health coverage to 742,000 state employees, retirees and their dependents is facing a $106.3 million income loss for the 2023-2024 fiscal year, WRAL reported Aug. 6.
The health plan has spent reserves that are used to cover annual costs, and the minimum it needs to maintain is expected to fall below the required threshold by 2026, according to the report. A net loss of $439 million in 2026 and a net loss of $824 million in 2027 is projected without intervention from the state legislature, according to Mr. Folwell.
“We’re one pandemic away from not being able to pay...
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