By: Sheila Crowley
Staffwriter
Dr. Norris Anderson, representing PrimeWest appeared before the Murray County Commissioners on Tuesday to help provide some clarification regarding the numbers initially presented and the number shown in the resolution to join. When first talked about this past summer the number that kept coming up was $886,000 to join PrimeWest Insurance. However, when the board was asked to sign a letter of intent to join, the number presented in the documentation was $1.35 million.
Norris explained how the numbers came about. In his graphs the initial buy in to PrimeWest expansion, as presented in June of 2018, was $19,600,000 with the 12 counties who had been a part of the Southern Prairie group (Chippewa, Cottonwood, Jackson, Kandiyohi, Lincoln, Lyon, Murray, Nobles, Redwood, Rock, Swift, and Yellow Medicine).
With Rock opting out of the PrimeWest expansion the final buy in number for their reserves was $18,500,000. Murray County’s share in June was listed at $877,160. Based on the 11 counties Murray County’s current buy in amount is listed at $862,946. Currently Southern Prairie (which will be dissolving) has $4.6 million dollars. Southern Prairie voted to contribute $3 million of those dollars to the PrimeWest buy in making it less for each county to join. This 3 million dollars is split equally amongst the 11 counties who opted to join PrimeWest which translates to $272,000. Murray County contribution share is 1.5% of the base ($232,500) plus portion of the contribution based on population ($630,446) making the final number at $862,946 after the Southern Prairie contribution.
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