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Effective January 1, 1990, all participants hired after January 1, 1979, <br /> must pay an additional 2% of salary in excess of $ 30,000. The Town 's <br /> current year covered payroll for teachers was $ 4,175,954. <br /> 17. Self Insurance <br /> The Town self insures for health insurance through a joint purchase agree- <br /> ment with the Cape Cod Municipal Health Group (CCMHG). The CCMHG <br /> self funds all of its health benefit plans, while participating governmental <br /> units pay premiums into the group trust funds. <br /> Additionally, the Town is exposed to risks of loss related to health insurance <br /> for its employees. The Town is a member of the Cape Cod Municipal Health <br /> Group (CCMHG), a public entity risk pool established in accordance with <br /> MGL Chapter 32B. CCMHG is a common risk management and insurance <br /> program servicing 15 towns and 26 other governmental entities. <br /> The Town pays an annual premium to CCMHG for its health insurance <br /> coverage for all active and retired employees. The Municipal Health Group <br /> Agreement for Joint Negotiation and Purchase of Health Coverage provides <br /> that CCMHG will be self-sustaining through member premiums and will rein- <br /> sure through commercial companies for claims in excess of$ 120,000 per <br /> individual, per policy year. Town management and CCMHG believe that <br /> member assessments are adequate to meet all claim requirements, including <br /> claims incurred but not reported as of June 30, 1996. <br /> 25 <br />