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LSU hospitals could need to pay about $42 million as employees are laid off

The Times Picayune, May 14, 2013
When the LSU health system turns over state public hospitals to various private operators this summer, the employees will be owed $29 million in "termination pay," while the system could have to pay out another $13 million in unemployment costs, a new report by the Louisiana Legislative Auditor found. LSU officials told the auditor's office they are aware of this $42 million expense and are working with Gov. Bobby Jindal's administration to find the money. Over the long term, the LSU Health Care Services Division, which currently operates the seven public hospitals in south Louisiana, estimates it will have to pay about $26 million annually in retiree health insurance and life insurance premiums.