PEIA plan approved for FY 2024

CHARLESTON, W.Va. – The state Public Employees Insurance Agency Finance Board approved the plan for fiscal year 2024 on Thursday, December 15. The PEIA plan was the same plan that had been discussed at the public hearings back in November. The one change was the 9.7 percent increase for non-state funded employees like local government organizations that opt in.

The approved plan for fiscal year 2024 would hold premium increases at zero for state employees and education employees. Retirees also would not experience a premium increase this coming year. The plan runs from July 1, 2023 through June 30, 2024.

“We’re really in trouble in a few years. I mean, we’re facing some dire consequences in the next few years,” said WVEA President Dale Lee, addressing the Finance Board. “We need to work this session to pass legislation to deal with the funding crisis for PEIA in the outlying years. We can’t wait until the funding crisis hits to try and deal with it.”