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PEB board pauses rate-setting for 2027, keeps January plan design after data reconciliation questions
Summary
The Public Employees Benefits Program Board declined to set premiums Feb. 24, citing a reconciliation of employer-share transfers from AEGIS and RGGI and gaps in previously used data; the board kept the plan design adopted in January and asked staff to return in March with rates based on 2024–25 actuals plus inflation.
The Public Employees Benefits Program Board deferred setting health-insurance rates for plan year 2027 on Feb. 24, saying staff and consultants need more time to reconcile state funding inputs before finalizing premiums. Chair Jim Wells told the board that staff discovered employer-share amounts were not correctly tested for plan years 2025 and 2026 and that transfers from the AEGIS and RGGI accounts are being reconciled; staff expects to report back within a month.
The board’s consultant, Richard Ward of Segal Consulting, said Segal’s earlier projections used the higher AEGIS and RGGI amounts provided during the governor’s recommended budget process rather than the…
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