Vegas-area teachers’ health trust reports funding shortage

LAS VEGAS, AP — A health insurance trust providing medical coverage to about 34,000 Clark County teachers and their dependents tells medical providers it has no funds to cover claims made before July, a newspaper reported.

THT Health, formerly Teachers Health Trust, is a self-funded, non-profit organization established in 1983 and overseen by the teachers’ union, the Clark County Education Association.

It provides medical coverage with contributions paid by the Clark County School District.

A letter this week from THT Health CEO Tom Zumtobel cites transparency, says the claims are not currently funded, and says the trust is evaluating options, the Las Vegas Review-Journal reported..

THT Health did not respond to the newspaper’s request for comment on the letter.

Records previously obtained by the Review-Journal showed the trust was $43 million in debt as of February.

The letter said she had settled a debt with her biggest supplier at a discount.

A deal last month with the school district and teachers’ union saw the trust get a $35 million advance in exchange for greater transparency, and the trust installed a new trustee and added two new insurance plans for teachers, reported the Review-Journal.

He said the trust received a bailout of around $10 million in 2015, but was hit with a class action lawsuit in 2017 alleging non-payment of claims.

Previous The desire for work flexibility pushes junior bankers towards fund management
Next Tourism Finance Corp Rises as Board of Directors Reflects on September 3 Fundraiser