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.
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)