Bedford to get a $900,000 refund from LGC
For the district, the money will be received as a credit in the form of a premium holiday — a reduction in the amount the district has to pay for insurance. In addition, a small percentage of the refund will go to those employees who were insurance subscribers at that time, said Superintendent Tim Mayes.
Towns and school districts pay insurance premiums that are put into a pool overseen by the LGC, which then contracts with an insurance company. The district is billed monthly for employees' health and dental insurance policies, and the premium holiday rebate will reduce that monthly payment.
The district was also notified several months ago that it would be given a premium holiday in August as a refund for health and dental premiums paid in 2011. As a result, the board budgeted about $250,000 less for insurance premiums for the 2013-14 fiscal year.
The percentage of money payable to the district and to employees who paid their share of dental and health premiums will be known in late October.
In the Aug. 16, 2012, ruling, the Secretary of State's hearings officer Donald Mitchell said the LGC wrongly created a business conglomerate and withheld funds that could have been used by member cities, towns and school districts to improve facilities, technology or buffer fund accounts.
"The regulatory agencies have determined that the Local Government Center's premiums they were holding in member reserves were too high and told them to return health and dental premiums for 2010 and 2011," said Mayes.
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