1 / 0

Public Employees Insurance Agency (PEIA) Health Insurance Issues

Public Employees Insurance Agency (PEIA) Health Insurance Issues. WVU Faculty & Staff Primary Concerns. Aggregate claims data not available. No input in the employee premium structure. No input into PEIA plan design or contribution decisions. Benefits are not competitive and equitable.

jenis
Download Presentation

Public Employees Insurance Agency (PEIA) Health Insurance Issues

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Public Employees Insurance Agency (PEIA)Health Insurance Issues

  2. WVUFaculty & Staff Primary Concerns Aggregate claims data not available. No input in the employee premium structure. No input into PEIA plan design or contribution decisions. Benefits are not competitive and equitable. Appears WVU significantly overpays premiums compared to claims paid.
  3. WVU and PEIA WVU is the 2nd largest employer in PEIA. Approximately 6,000 are enrolled in health insurance. A total $54 Million is paid annually to PEIA. $30 Million employer premiums $12.5 Million employee premiums $11.5 Million in RHBT*/Pay-go employer contributions $54 Million paid to PEIA annually $30 Million claims paid annually by PEIA on behalf of WVU. $24 Million excess to PEIA *RHBT = Retiree Health Benefits Trust Fund $54M } $24M excess PREMIUMS $30M CLAIMS
  4. Salary Based Annual Premiums PEIA PPB Plan A – Family Coverage Premiums paid to PEIA *Assumption: COBRA Premium (less 2% administrative fee) = cost of coverage.
  5. Potential Annual Employee Costs PEIA PPB Plan A – Family Coverage $13,263 $11,488 $9,784 $8,639 $8,118 $6,989 $5,964 $5,191 $4,542 $3,404
  6. RHBT/Pay Go Retiree Health Benefit Trust Fund WV state code §5-16D-2 (effective 2006) requires employers covered by PEIA to contribute additional funds to subsidize retiree premiums. RHBT Premium = $176 per month for all active employees with PEIA health insurance. Effective July 1, 2010, new benefits eligible employees are no longer eligible for subsidized retiree health insurance premiums, however, since this time WVU has hired more than 1,964employees and paid over $5.69 Million in RHBT for employees who are not eligible for subsidized retiree insurance premiums. WVU is paying RHBT premiums for employees for phantom retiree health benefits.
  7. Faculty & StaffGoals & Faculty Faculty & Staff Objectives: Offer competitive insurance benefits to increase recruitment and retention among faculty and staff. Access to WVU aggregate plan utilization data to design wellness programs that meet our employee’s greatest health risk factors. WVU employees’ premiums comparable to peers. Ensure all employees pay the same deductible and out-of-pocket (Eliminate triple whammy). Provide an insurance network that is more accessible for our employees. PEIA pass cost savings to the University and State employers. Pay premiums to PEIA based on paid claims. Stop paying RHBT premiums for employees not eligible for subsidized retiree health premiumsand return excess premium dollars to WVU.
More Related