| No alternative funding options found for WV's PEIA
By Phil Kabler, Statehouse Reporter for the Gazette-Mail
While legislative leaders are touting possible alternative funding options to ease $120 million of benefits cuts for West Virginia's Public Employees Insurance Agency insurees, nothing definitive has been found, officials said.
Shortly after the PEIA Finance Board approved what have been termed "draconian" cuts in benefits for active employees and retirees, House Speaker Tim Armstead, R-Kanawha, issued a statement indicating that legislative leaders are working with the Governor's Office and PEIA to come up with "potential alternative funding solutions" short of raising taxes.
However, at this point, no alternative funding sources have been found, officials said.
"The governor certainly is willing to look at options but, as everyone's aware, it's an extremely tight budget year," said Chris Stadelman, spokesman for Gov. Earl Ray Tomblin.
After three consecutive years of spending cuts, the 2015-16 state budget is on pace to come up about $250 million short of projections, with Department of Revenue officials not anticipating a significant rebound in the 2016-17 budget year....
READ REST OF STORY: No alternative funding options found for WV's PEIA By Phil Kabler, Statehouse Reporter for the Gazette-Mail
DRACONIAN BENEFIT CUTS: PEIA ZAPS TEACHERS AND STATE EMPLOYEES WITH MAJOR INSURANCE INCREASE
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