Teachers Health Trust returns $35 million loan to Clark County School District

The health insurance provider for Clark County School District teachers has announced that it has fully repaid the $35 million loan it received from CCSD back in 2021 to stay afloat. This loan was necessary at the time due to a $66 million debt burden faced by Teachers Health Trust (THT). Teachers had reported problems with medical coverage denials and bills being sent to collections, prompting the district to step in with financial assistance.

This successful resolution of the debt has been attributed to the dedication and collaboration of all involved parties. Without the advance from CCSD and the commitment of community providers, this remarkable recovery would not have been possible, according to Tom Zumtobel, the CEO of Teachers Health Trust. The deadline for repayment of the loan was June 30, 2024.

Teachers and their families who are covered by THT Health, a non-profit insurance overseen by the Clark County Education Association (CCEA), have faced challenges due to inadequate funding. CCEA Executive Director John Vellardita previously cited the need for increased contributions from the school district to prevent a growing deficit. The company has committed to transparency and accountability going forward, stating that the recent negotiations by CCEA have resulted in significant benefits for both the company and its members through increased contributions.