Newburg school employees could be getting more options on their health insurance in the future, after the board of education discussed possible ideas with the executive director of the South Central Education Consortium.
Lonnie Thompson, the organization’s executive director, may present the option of Health Service Accounts to district employees after board members expressed interest in the plan.
Thompson, who is also a sales representative with National City Insurance, was at the board’s December meeting to present a $23,238 refund since the district’s claims to premium ratio was low. The SCE Consortium represents 16 schools in south-central Missouri area.
“You can put money aside for medical purposes, and it is tax free,” Thompson said.
Money that would go into an HSA belongs solely to the individual employee, and can accumulate over time, he said.
Currently, faculty and staff have a single option, premiums are $402, which the district pays, and a $2,000 deductible, $250 of which an employee pays.
An HSA option would cost $295 in premiums, with a $3,000 deductible. Money for an HSA would come from the difference between the original plan’s premium and the HSA’s, which the district contributes, and could garner more than a $1,000 a year. Employees also could contribute and use the money on any medical expenses.
