Over the last two years administrators are either paying more for their insurance or they have a significantly reduced benefit. Administrative health insurance benefits have been reduced in both 2009 and 2010. In 2009, the insurance benefit for administrators for which the Board paid was changed to a higher deductible policy. This reduction in administrative benefits saved the school corporation over $80,000.
For 2010, the insurance premium paid by the Board for all administrators was frozen at the 2009 level. Then, because the insurance premium went up in 2010, administrators either chose to go to the highest deductible/HSA (Health Savings Account) plan, or they chose to stay with the same policy which requires that they pay the premium increase in the insurance benefit themselves. The savings because of this reduction in administrative benefits in 2010 will be an additional $12,744.
