The Olentangy Treasurer’s Office announced Tuesday during the regular Board of Education meeting that the district will receive a health insurance premium holiday in March, equating to more than $1,000,000 in savings. The district is able to receive this holiday because of the efforts that Treasurer Rebecca Jenkins and Executive Director of Human Resources Gale Marsh have completed in working with the district’s Champaign, Delaware, Marion and Union counties (CDMU) Insurance Consortium.
When excess reserves are available in the consortium, districts may receive a premium holiday. At Olentangy Local Schools, the available funds are placed into a special account that may be used in the future should the district choose to leave the consortium. The board has a Finance and Audit subcommittee regarding insurance and the CDMU consortium.
“This is a win-win for all involved,” said Jenkins. “The district’s employee’s and the district both save money and it puts Olentangy Local Schools into a more secure situation should any changes ever be necessary in the future.”