By Steven Allan Adams, for The Journal of Martinsburg
CHARLESTON, W.Va. — The Public Employee Insurance Agency, which covers the health care of state workers, is in good shape in the short-term, but dipping into the $100 million Rainy Day Fund is a possibility toward the end of next fiscal year.
PEIA Director Ted Cheatham briefed Tuesday the Select Committee on PEIA, Seniors and Long Term Care on the condition of PEIA during the second day of December legislative interim meetings at the State Capitol in Charleston.
According to budget numbers from the end of fiscal year 2019 that ended in June, the PEIA plan for current employees brought in more than $30 million more than what was budgeted. Cheatham said that any surplus in PEIA stays in PEIA.
“You can see PEIA did pretty well. It was a great year with no real surprises,” Cheatham said. “They are used to offset future costs, and that’s what’s going to help us get through (fiscal year) 21 and 22.”
Cheatham said there was little change in enrollment numbers, with both fiscal year 2019 and 2020. PEIA serves over 200,000 active state employees and retirees. …