PEIA Board modifies, approves proposed cuts at December meeting
The failure of the legislative leaders to fully fund PEIA, coupled with skyrocketing drug costs, forced the PEIA Finance Board to propose cutting $55 million of earned benefits from active and retired public employees.
The PEIA Finance Board put forth a proposed plan and held public hearings to receive feedback from plan participants. AFT would like to thank the many members and retirees who attended hearing and spoke about the issue.
The Finance Board met on December 1st and modified their original proposal, opting to increase premiums for pre-65 retirees instead of significantly increasing their out of pocket max. The Board also approved a mandatory 90-day fill on maintenance medications as opposed to changing the second-tier co-pay on prescription drugs to 30 percent. Under the plan, deductibles and out of pocket maximums both increase for employees. Specialty drug co-pays for preferred-list drugs will jump from $50 to $100.
State law requires the finance board to approve the health insurance plan by the end of December but that doesn’t stop the legislature from proposing more money for PEIA. For the second year in a row, fully funding PEIA will be a top legislative priority for AFT-WV, and we will need all public employees to be involved. Watch for more information as the session begins, and stay informed by signing up for emails and texts at www.aftwv.org.
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