A Massachusetts agency that oversees health insurance for 460,000 public employees, retirees and their dependents will run out of money by Monday — unable to pay providers.
In April, The Group Insurance Commission (GIC) Executive Director Matthew Veno said rising provider prices and increased utilization of prescription benefits, including for GLP-1 weight loss drugs, had caused the commission to run an average $20 million monthly deficit this fiscal year.
With the fiscal year set to end June 30, the commission is counting on taxpayers to cover its deficit and has a $237 million appropriation request pending before the Legislature…