Finance committee recommends CPS to increase employee insurance premiums nearly 30%

COLUMBIA, Mo. (KMIZ)

The finance committee for the Columbia Board of Education voted on Monday to recommend an increase in medical insurance premiums for district employees.

The committee heard a presentation from the district's Chief Financial Officer Heather McArthur about different changes to insurance premiums and what those changes would bring in estimated revenue. The committed voted 3-2 to recommend a 29.9% increase in premiums. McArthur's presentation also included revenue projections if premiums went up 15% or 35%.

According to McArthur's presentation, a 29.9% increase would generate an estimated $8.381 million in revenue. The presentation said the district has not increased rates since the 2018-19 fiscal year.

Coverage for GLP-1 medications was one issue that generated a lot of discussion during Monday's meeting. GLP-1 medications were developed to help treat diabetes but have also been prescribed by doctors to help with weight loss.

One option discussed at Monday's meeting was whether to consider removal of coverage for GLP-1 medications when prescribed for weight loss. McArthur's presentation included a multi-year strategic plan that listed GLP-1 coverage removal as an item of consideration for 2027.

The proposed increase will go before the full Board of Education for a vote at a future meeting.