Charlton Finance Committee Hears Health Insurance Trust May End Year With $800,000 Cash

CHARLTON — December 17, 2025 — Charlton Finance Committee hears health insurance trust may end fiscal year with only $800,000 in reserves. Town Administrator Andrew Golas told the committee at its December 17 meeting that the Hampshire County Group Insurance Trust has depleted its reserve accounts and is now running on premium income alone, with a projected June 30 year-end balance that has fallen from an initial $5 million estimate to roughly $800,000. The trust has lost its executive director and a second staff member, leaving three people on staff and causing delays in producing claims data needed for competitive bidding. At least nine member communities are expected to leave for the state Group Insurance Commission by an early January deadline. Golas said self-funding is a contingency option and that the Department of Revenue has confirmed the town may borrow from stabilization without town meeting approval in an emergency. Separately, Golas presented a full briefing on Proposition 2.5 levy mechanics, showing that Charlton's FY26 levy capacity reached $42.8 million on the strength of $5.6 million in new growth, and that the town has targeted annual single-family tax bill increases of 3.5 percent to 4 percent by maintaining excess levy capacity. A $50,000 Route 20 corridor economic development study with Westmass Development launched the following morning.