People covered by PEIA are looking at another increase for the coming fiscal year — 10%-13% depending on certain individual factors. This, after the 24.2% increase plus the $147 per month spousal surcharge approved in March for FY 2024.
According to the West Virginia Chamber of Commerce, prior to the spring increases, a family earning $50,000 per year paid about $1,262 per month in PEIA premiums, while a similar family on private insurance paid about $1,949 per month. The 24% increase means that PEIA-covered family is paying roughly $1,564 this year; an additional 10% increase will put the monthly premium at roughly $1,720.
This is still significantly less than what comparable families with private insurance pay, so we imagine those on PEIA will receive limited sympathy from their private sector counterparts. However, we can certainly sympathize with the sticker shock. A $460 increase in per-month payments in two years would be a blow to any family’s budget.
Fortunately, the PEIA board will be holding public comment hearings before the newest increase becomes final. There will be one such hearing in Morgantown on Nov. 9, for anyone who would like to share their thoughts or ask questions.
