It would take annual payments of $3 billion over 30 years to bring that fund to solvency. Those payments and debt are not included in the $3 billion deficit openly discussed by political leaders. The fund pays the medical expenses of retired state employees until they are enrolled in Medicare. It also pays for any health benefits Medicare does not cover.
A handful of elected officials acknowledge the retiree portion of the State Health Plan is bankrupt.
To watch CarolinaJournal.tv’s full report on the Health Plan’s unfunded liabilities, click on the video.
Anthony Greco is an associate editor of Carolina Journal.