A once healthy $500 million in reserve for health insurance coverage on more than a quarter million state employees, school system employees and workers in other agencies has dwindled and it’s the people who pay the premiums who will have to pay the piper.
“A healthy reserve in excess of $500 million is now down to $150 million or less and it’s going down,” Webster Parish Superintendent of Schools Dr. Dan Rawls said. “I’m hearing that by July of 2015, it could be down to around eight million dollars.”
Where has the money gone?
“The governor raided the reserve to balance the budget.