Source: Florida Watchdog
State economists cite nearly $40 million in repairs to Hurricane Irma-damaged state-owned property, “medical inflation” – especially pharmaceutical prices – and class action lawsuits among the reasons why Florida’s self-insurance fund faces a projected shortfall for the second consecutive year.
The state Self-Insurance Estimating Conference Monday projected Florida’s Risk Management Trust Fund (RMTF) will incur a $14 million shortfall in fiscal year 2020 unless legislators take action during the 2019 session.
The same four-economist panel last year called upon the Legislature to plug a projected $20 million RMTF revenue gap, which lawmakers agreed to do in the state’s FY19 budget.
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