QPS to change insurance providers citing concerns of company’s financial stability

QUINCY — The Quincy School Board voted Thursday to move its employee health insurance from a self-funding model.

District officials told their employee of the pending move, citing concerns regarding the stability of the current insurance provider, Egyptian Schools Employee Benefit Trust.

“Once we were made aware of the potential risk for our insured team members, due to financial instability of the trust, QPS administration and board of education were proactive to protect our insured employees and be fiscally responsible with taxpayer dollars.,” said QPS Superintendent Dr. Todd Pettit.

District officials look to make the transition to a new health insurance provider as seamless as possible.

“Quincy Public School District is seeking to limit its liability due to the uprising and uncertainty of healthcare and prescription drugs by moving away from a self-insured model to fully-insured product,” said QPS Chief of Business Operations Ryan Whicker.

The transition process should take about 60 days.

More than 100 Illinois school districts are members of Egyptian Trust.