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West Virginia PEIA: Good financial numbers likely means no premium increases next year

By PHIL KABLER

Charleston Gazette-Mail

CHARLESTON, W.Va. — A month before they will sit down to hash out details of the proposed 2019-20 benefits plan, members of West Virginia’s Public Employees Insurance Agency Finance Board got good news on the financial health of the plan.

Preliminary results Thursday show PEIA finished the 2017-18 plan year on June 30 with a $44 million surplus, spurred by prescription drug costs that came in $35 million below estimates.

“Overall, we have really good news both for PEIA and the [retiree] trust,” actuary Chris Borcik told the board.

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