Randy Yohe Published

New PEIA Insurance Premium Increases Passed On Thursday

A view of the Public Employees Insurance Agency in Charleston.
The Public Employees Insurance Agency in Charleston.

The Public Employees Insurance Agency finance board approved the increases after listening to public comment sessions around the state.

The rate increases include:

A 10.5 percent premium increase with no benefit changes for employees enrolled in the state health insurance fund. 

Premium increases of 14 percent for local government employees who opt into PEIA. 

No changes in premiums or benefits for Medicare retirees. 

And a 10 percent premium increase and no benefit changes for people old enough to be retired but have not yet reached Medicare age.

The increases begin with the start of the next fiscal year, July 1, 2024.

The higher premiums come, in part, from legislation passed back in March that calls for a mandatory 80-20 cost split between employer and employees.

PEIA employee costs have gone up two years in a row.

Gov. Jim Justice has suggested another 5 percent pay increase for state employees may be included in his 2024 budget.