BOSTON (SHNS) – The state agency that oversees health insurance for 460,000 public employees, retirees and their dependents is on track to run out of money to pay claims on May 12, a full seven weeks before the end of the fiscal year.
During a briefing to Group Insurance Commission members Thursday, 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 $240 million appropriation request pending before the Legislature…