Charleston, WV — The West Virginia Public Employees Insurance Agency (PEIA) Finance Board has approved a plan to adjust insurance premiums and deductibles for public employees, local government workers, and retirees. The changes, aimed at addressing financial sustainability, will take effect in July 2025.
Under the approved plan, premiums will increase by 14% for state employees, 16% for local government employees, and 12% for retirees. Additionally, deductibles for all policyholders will see a 40% increase. These adjustments are part of an ongoing effort to ensure the long-term stability of the PEIA program amid rising healthcare costs.
The Finance Board acknowledges the potential challenges these changes may pose for employees and retirees and emphasizes its commitment to maintaining a robust and sustainable benefits program. The board encourages members to review their coverage options and make necessary preparations ahead of the implementation date.