The Trustees who run the State Health Plan faced a tough problem when they met last week: They were handed a report showing the plan – which pays for health insurance for 700,000 current and retired teachers and state employees – had unfunded liabilities of $32.5 billion.
What did the Trustees do about the plan’s debt? Did they cut costs?
Instead, the Trustees voted to increase spending by adding a large new benefit to the plan – they voted to pay for sex change operations for state employees.
You couldn’t make this stuff up.