Vegas-area teacher health trust reports claims fund shortage
LAS VEGAS (AP) — A health insurance trust providing medical coverage to about 34,000 Clark County teachers and their dependents is telling medical providers it doesn’t have funds to cover claims made prior to July, a newspaper reported.
THT Health, formerly Teachers Health Trust, is a self-funded nonprofit begun in 1983 and overseen by the teachers’ union, the Clark County Education Association.
It provides medical coverage with contributions made by the Clark County School District.
A letter this week from THT Health CEO Tom Zumtobel cites transparency, says claims are not currently funded, and says the trust is evaluating options, the Las Vegas Review-Journal reported.
THT Health did not respond to newspaper request for comment about the letter.
Records previously obtained by the Review-Journal showed the trust was $43 million in debt in February.
The letter said it settled some debt with its largest provider at a discount.
A deal last month with the school district and teachers union gained the trust a $35 million advance in exchange for more transparency, and the trust installed a new administrator and added two new insurance plans for teachers, the Review-Journal reported.
It said the trust received a roughly $10 million bailout in 2015 but was hit with a class-action lawsuit in 2017 alleging non-payment of claims.