PEIA Public hearing Tuesday‏ on Premium Inceases, Coveage Changes

Updated 2 years ago by Marilyn Howells
PEIA Public hearing Tuesday‏ on Premium Inceases, Coveage Changes

West Virginia's Public Employees Insurance Agency plans to cut over $122 million from its budget.  Proposals include copay increases, Deductible  increasing $500 more for individuals, and a $1000 for families. Single and Family Out of Pockets double to $3000 and $6000 in mid range income bracket ! Prescription deductibles increase and Out-of- Pockets go up to $2,500 individual  and $5000 for families for most.  Workers will now pay 30% on preferred brand name drugs, even if there is not a generic. Copays will double for preferred specialty drugs.  Employees  already pay 75% on nonpreferred brand name and np-specialty drugs. 

A Public Hearing will be at  6:00 PM, Tuesday, Nov. 17,  at tge Marshall Medical School,  Harless Auditorium, 1600 Medical Center Drive, Huntington, WV. (At University Physicians, next to CH Hospital.)   PEIA also plans to "adjust tiers" raising premiums for some. Also projected premium increases over  4 years compound to almost 25%.    PEIA is considering "flattening" premiums and  proposes basing premiums on self reported  Family Income from IRS return with audits causing  Invasion of privacy,  unequal compensation, raised premiums for many, and  loss of some of the sliding scale and that was suppose make up for the greater loss of insurance compensation for the lower paid.   Medicare Retirees face 8% premium increase, plus 39%, 27%, and 23% compounded, so that for the 4th year premiums will reach about 234% of today's rate. (Non Medicare retiree premiums  to go up 8%, then 11%, 6%, and 5% to 133% of today's rate). Medicare retirees' deductibles go up 50%, and Out of Pocket increases another $350 to $1,100. Prescription deductibles increase a third, and Out of Pocket goes up to  $2,500, while copays increased dramatically.    Concerns include possibly chronically overestimating projected growth, which is used as excuse to cut benefits, appeared failure to pay all the 80/20 match (perhaps triple digit millions over the years), and PEIA's ill-advised insistence on cutting some premiums  a few years ago,  Under the 80/20 match, the state saved $480 per year  for every $10 a month saved by an employee with $600 per year total per employee not going into to the fund.     See PEIA website for presentation.  Be there to protect your rights. A no comment  is tacit approval.   TRANSPARENCY: PEIA Presentation Handout, financial reports, & articles 
PEIA Handout is here:   http://www.peia.wv.gov/forms-and-downloads/Documents/other_documents_members/Public_Hearing_Presentation_Plan_Year_2017.pdf   http://www.peia.wv.gov/Pages/Public-Hearing-Presentation-and-Survey-Now-Available!.aspx   Most recent report: http://www.peia.wv.gov/forms-and-downloads/Documents/financial_reports/peia_actuarial_reports/Quarterly_Report_3-31-15.pdf   Fiscal Year 2014 Report (Fiscal Years 2014-2019) http://www.peia.wv.gov/forms-and-downloads/Documents/financial_reports/peia_actuarial_reports/Fiscal_Year_2014_Report_Fiscal_Years_2014-2019.pdf   Most online Financial Reports are here http://www.peia.wv.gov/forms-and-downloads/financial_reports/Pages/default.aspx
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