Health

Legislature Approves FY2024 Insurance Package for Gov't Employees, Highlighting $400K Savings

In the latest session of the 35th Legislature on Friday, lawmakers approved the insurance package for government employees and retirees for the fiscal year 2024. Beverly Joseph, chair of the Government Employees Service Commission (GESC) Health Insurance Board of Trustees, presented the recommendations for the next fiscal year’s group insurance contracts during a Committee of the Whole hearing. The approved package, which includes medical, prescription drug, dental, vision, and life insurance benefits, is set to be provided by Cigna, United Healthcare, and Standard Insurance. The decision to retain these current providers was based on their competitive offers in a bidding process, leading to a notable decrease in total costs by $400,000. "For all insurance coverage combined (including dental, vision and life), plan outlays will decrease from $183.1 million in FY23 to $182.7 million in FY24. This is a decrease of approximately $403,000," Ms. Joseph told lawmakers. Some changes have b...