Press Release

Montgomery County Health Insurance Trust Proposed Dissolution Plan

Description of Dissolution

The County of Montgomery (the "County") and the City of Amsterdam (the "City"), as Plan Members of the Montgomery County Health Insurance Trust Plan (hereinafter the "Trust"), have determined that it is in the best financial interest of the Plan Members and their respective employees who are covered under an employer sponsored health insurance plan by virtue of his or her employment, to dissolve the Trust.

The Proposed Dissolution Plan is posted in Amsterdam City Hall and the Montgomery County Public Works Building and is also posted on the City of Amsterdam and Montgomery County websites.

The purpose of the Proposed Dissolution Plan is to provide public notice of the terms and information regarding the termination of the Trust and establish a procedure to wind up the Trust's affairs in an orderly manner and is designed to result in the timely payment of all health benefits incurred during the period July 1, 2007 through December 31, 2012, to set a time within which claims must be filed, to pay incurred and acknowledged operating liabilities and expenses incurred during the period July 1, 2007 through when an audit of the financial statements is completed, to establish a cash reserve for payment of contingent and disputed liabilities, claims and expense, cash deposit, and to distribute to each member, its pro rata share of any fund balance remaining upon the conclusion of the wind up of the Trusts' affairs.

Health Insurance Trust Proposed Dissolution Plan (PDF)