CHAPMANVILLE, W.Va. — During a recent meeting of the town council, council members were updated on the town’s finances and councilors made a decision to save the town money on insurance costs while ensuring every worker for the town can afford insurance.
Town accountant Jeff Valet told councilors the town’s finances are slightly improving.
“Financially, we are better at this time this year than we were at this time last year. That doesn’t mean we are all of the way out of the woods, but we definitely see more sunlight than we saw at this time last year,” noted Valet.
Valet explained January collections were good because of fourth quarter business and occupation tax collection from the holidays.
Members of the town council also took steps to reduce the amount spent by the town and its employees on health insurance.
The town decided to move from Highmark Blue Cross/Blue Shield to PEIA insurance coverage.
With PIEA, a single person on plan “A” coverage with a $250 deductible would pay $51.50 each paycheck and the town would pay $412 a month.
With coverage from PEIA, a family on plan “A” with a $500 deductible would pay $106.50 each paycheck and the town would pay $854.
Currently, town employees pay $1,000 and $2,000 deductibles for single policies and family policies respectively with Highmark.
Currently the town pays a month over $7,000 in insurance costs and the switch could see the town spend around $3,300.
The council approved a measure to switch to PEIA beginning March, 2017.
Owen Wells is a reporter for Civitas Media. He can be reached at 304-752-6950 or by email at [email protected]