BUDGET PLANNING: SISC Rate Renewals

Good Afternoon Everyone,
Hoping that everyone is safe and well as vaccinations roll out and reopening plans continue. Below are some timely updates from SISC II and SISC III.
SISC II Property and Liability rates will increase next fiscal year by an average of 9.12% to account for a projected increase in claim costs. Please be aware that each district’s premium is calculated separately based on factors such as valuation of assets covered, claims experience, and whether buildings have smoke/fire detection installed. This information is being shared to provide an order of magnitude for budgeting purposes but will not take the place of SISC’s actual calculation for districts – which should arrive in the next few weeks.
In SISC III, we will have a good renewal for next fiscal year. The average increase for PPO medical plans in the Santa Barbara pool is 1% as shown on the attachment. The formula spreads that up to a maximum increase of 4.9% and down to a rate reduction of -3.1%, depending on district experience. Small districts are lumped together into the small district pool. When the pharmacy rate increase is added to individual district PPO rates, each district’s rate will likely increase by about 1%. The fully calculated rates will be given to districts by SISC during the March 30 regional renewal meeting. However, this information will give you a good idea of the rate increase for your district.
Lastly, we are happy to announce that Cottage Health has extended through December 2022, the option for those covered by SISC health insurance in Santa Barbara County to have hip and knee replacement surgery at Cottage Hospital.
If you have any questions, please contact me as indicated below.
Best regards,
Bill
Bill Ridgeway Assistant Superintendent Administrative Services Santa Barbara County Education Office (805) 964-4711, ext. 5700 bridgeway@sbceo.org<mailto:bridgeway@sbceo.org>