QPS employees transitioning to new insurance
QUINCY — The Quincy School Board approved an intergovernmental agreement with HOPE Trust (Health Options for Public Entities) out of Havana, Ill. to be the new insurance provider for school district empoyees.
Employees have been meeting with with HOPE and school district representatives all week to hear about the changes in coverage. QPS will be on its third insurance company in less than 18 months after dropping Egyptian Trust in October 2022 and switching to Blue Cross Blue Shield (BCBS).
BCBS presented the district with an increase that led them to seek a new provider. QPS Chief of Business Operations Ryan Whicker said HOPE trust has been in business for 30 years and has consistently kept the public entities in its portfolio with lower price increases than national averages. Whicker said those cost increases have remained in the single digits when there have been increases.
HOPE represents public employees with a self-insured plan offering preferred, standard and out-of-network providers that will go into effect January 1.
In other action, the Board considered the 2023 tax levy, which would have a decreased rate from $3.96 to $3.88.
This was the Board’s first look at the levy and will formally vote on it at its December meeting.
Whicker said estimates from Adams County show property values increasing by more than 7 percent from last year, which means even with a lower rate, more than likely property owners will still pay higher property taxes.
The district estimates bringing in more than $45 million in property tax revenue next year. More than half of the property tax dollars paid by property tax owners in the Quincy Public School District boundaries go to the school district.
The Board also received its annual audit, which showed QPS increasing its fund balance to $32.9 million. The District now has 230 days of operating cash on hand, which is a good sign for the financial health of a school district.
QUINCY PUBLIC SCHOOL DISTRICT LEVY WORKSHEET FOR THE 2023 TAX YEAR
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