By March 22, 2019 Read More →

West Virginia PEIA Executive Director Cheatham: New $105M reserve fund will keep PEIA solvent through 2021

By PHIL KABLER

Charleston Gazette-Mail

CHARLESTON,W.Va. — With $105 million ready to be deposited into a newly created reserve fund, West Virginia’s Public Employees Insurance Agency will be able to get through the 2020-21 plan year without needing premium increases or benefits cuts, PEIA Executive Director Ted Cheatham said Thursday.

However, he said of the following plan year, “We definitely will need new funding in 2021.”

That likely will be in the $50 million to $80 million range, Cheatham said.

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