Three years of below-budget spending by the Public Employees Benefit Board drove the governor and Legislature to take $120 million away from the health benefit plan’s reserve and place it in the state general fund. But now PEBB’s costs have spiked, and the health plan will have to lean on its reserves to pay benefits, cutting the reserve to $159 million in 2018, and possibly draining the fund by 2025.
Apr 22, 2016