State’s Health Care Liability Jumps By $2.5B
“One of the greatest fiscal challenges facing California is the mounting cost of providing health care benefits to public sector workers,” state Controller Betty Yee said.
Sacramento Bee:
California's State Retiree Healthcare Liability Increases To $76.68 Billion
California faces a $76.67 billion cost to provide healthcare and dental benefits to retired state employees, state Controller Betty Yee reported Wednesday, an increase of $2.49 billion over the previous year’s estimate. The unfunded liability – what it would cost to provide health and dental benefits that had been earned as of June 30, 2016 – would be about $1.45 billion more but for slower-than-expected growth in health care claims and lower costs, the report said. (Miller, 1/25)