By Charles Young, WV News
CHARLESTON, W.Va. (WV News) — On the heels of double-digit premium increases that went into effect in July, the West Virginia Public Employees Insurance Agency is proposing additional increases for Plan Year 2027.
During a meeting of the PEIA Finance Board on Thursday, officials discussed a 3% aggregate premium increase for employees and a $200 increase to the spousal surcharge.
According to information presented during the meeting, by holding premium levels flat from 2018 through 2022, “PEIA failed to keep pace with rising premium levels with other state plans.”
This resulted in the need for “high increases in 2023 and 2024 in an effort to right-size premium levels rather than having steady increases over that period.”
PEIA, which provides insurance to more than 200,000 West Virginians, increased premiums in July — 14% for state employees, 16% for non-state employees and 12% for retirees.