SB 434
PEIA Stability and Sustainability Act of 2026
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- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
The PEIA Stability and Sustainability Act of 2026 aims to ensure the long-term financial health of West Virginia’s Public Employees Insurance Agency (PEIA). It establishes a reserve fund to cover premium increases and stabilize the program, sets employer and employee cost-sharing ratios, and includes provisions for retiree premium protections and increased transparency in plan management. The bill also creates an independent oversight board to monitor PEIA’s operations and promote cost-containment measures.
Key provisions
- Creates a PEIA Stabilization Reserve Fund to cover premium increases and maintain solvency.
- Establishes a 82% employer and 18% employee premium cost-sharing ratio.
- Protects retirees by limiting monthly premiums to $100 for those with lower pension incomes and covering Medicare Advantage plans.
- Requires increased transparency and public accountability through board meetings and public notice for plan changes.
- Authorizes reference-based pricing and direct-care contracts to manage healthcare costs.
- Creates an Independent PEIA Oversight Board to monitor the program’s finances and operations.
- Mandates annual reporting on solvency projections, premium trends, and program participation.
- Permits the agency to implement wellness incentive programs.
Who is affected
- West Virginia State Employees
- Public School Employees
- Public Service Workers
- PEIA Retirees
- West Virginia Employers
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