- Associated Press - Monday, July 27, 2015

RALEIGH, N.C. (AP) - Legislative researchers say North Carolina can save up to $64 million annually by switching health costs to federally-funded Medicare Advantage plans, but they caution that additional action is needed to close the state’s unfunded liability.

A report released Monday by the Program Evaluation Division of the General Assembly says the state would need to provide around $2.2 billion more each year to be on track to fully fund an estimated $25.5 billion shortfall in covering long-term benefits to retired state employees.

Legislators are considering a number of options to decrease the state’s unfunded liability, which has already fallen by several billion dollars since 2010. The options include changes to the state’s pension fund and blocking new hires from receiving retiree health benefits from the state health plan.

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