The Pulaski County Commissioners this week received some good news from their insurance company in the form of a $124,000 reimbursement. Commissioner Ken Boswell explained this reimbursement came from savings through their insurance plan, and they’ve already put that money to good use.
“It means that through our renegotiation of our insurance benefits, we’ve been able to bring back $100,000+ savings over the last two years to our county, which in turn, pays for more than one premium of our monthly cost for insurance benefits,” said Boswell.
A portion of the money was used to pay the November insurance premium, and they also applied some of it toward increasing their employee dental plan. Dave Bennett of Gibson Insurance explained that this increase in the dental plan would put them in the 90 percentile for coverage.
The money, Boswell explained, was reimbursed to the county because of the self-funded insurance program. At the end of the year, the insurance company reviews the county’s case rate and payouts, and they get a percentage of money saved throughout the year back from the self-funding portion.