School board reports $485,933 settlement from Blue Cross; insurance claims overview

District staff told the St. Mary Parish School Board on June 4 that the district received a settlement payment from a Blue Cross class-action matter. Becky reported that the "St. Mary Parish School Board share of the settlement is $485,933.09," and staff confirmed the funds were deposited into the general fund on June 3 and recorded as miscellaneous revenue.

Mr. Perez and an accompanying account executive presented an updated claims report through May and noted a prior claims recovery of nearly $1.2 million earlier in the year that affected current ratios. They reported an adjusted loss ratio figure (as presented in the meeting) and warned the board that medical and prescription claims typically rise in the summer months and toward the end of the fiscal year.

Board staff said they are awaiting guidance from the district’s auditors and the board attorney about permissible uses of the settlement funds in the 2026–27 budget.

No action to earmark or appropriate the settlement funds was recorded in the public portion of the meeting; staff indicated the district will seek auditor and legal guidance before deciding how to apply the revenue.