CalPERS Says It Reduced Health Care Costs by $1.2 Billion Since 2008
CalPERS has reduced health care spending for state and public agency employees by $1.2 billion since 2008, according to a report it sent to the Joint Legislative Budget Committee, the Sacramento Business Journal reports (Wiese, Sacramento Business Journal, 10/25).
Of that amount, savings for the state's general and special funds during that time reached more than $587 million, according to the report (CalPERS release, 10/24).
CalPERS reported that this year, it has reduced spending by $78 million, including $36 million in savings for the state's general and special funds (Sacramento Business Journal, 10/25).
In 2012, health care cost savings are expected to reach more than $104 million, with about $50 million in savings for the state's general and special funds (CalPERS release, 10/24).
CalPERS said the spending reductions are the result of changes in pharmacy copayments and negotiating increases to premium rates (Sacramento Business Journal, 10/25).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.