The State Health Plan is currently experiencing a $106.3 million loss in income for the 2023-24 fiscal year, and the Board of Trustees overseeing the Plan will be presented with detailed options for addressing the budget shortfall at upcoming board meetings. Treasurer Dale R. Folwell, CPA, will discuss the root causes and possible remedies of the pressing situation during his monthly Ask Me Anything session with reporters on Tuesday, Aug. 6.
Upon taking office, Treasurer Folwell inherited one of the worst funded state health plans in the nation, but has made significant strides in decreasing the unfunded level. Despite those efforts, the Plan faces imminent insolvency as it has expended reserves to cover annual costs. Projections show the Target Stabilization Fund, which is the minimum amount the Plan needs to pay for services, will fall below the required threshold by 2026 and likely will be unable to pay bills.
Increased funding from the General Assembly and payments for unreimbursed COVID-related costs are among funding and cost-reduction strategies being considered.
Tuesday’s Q&A will be the 91st consecutive month Treasurer Folwell has offered media representatives the innovative opportunity to interview him on topics of their choosing.
What: Treasurer Folwell’s August “Ask Me Anything” Q&A
When: Tuesday, Aug. 6, at 10:30 a.m.
How: Microsoft Teams Meeting
RSVP: Email: press@nctreasurer.com
If you’d like to participate, please RSVP to press@nctreasurer.com to ensure that time is allotted for your questions. Full audio will be made available after the call.