MONTGOMERY, Ala. (WBMA) — Alabama’s Public Education Employees’ Health Insurance Plan (PEEHIP) is turning to its retiree trust fund to help cover rising healthcare costs after lawmakers approved less funding than the system requested for the upcoming fiscal year.
PEEHIP officials requested a $380 million increase in funding to maintain current benefits as insurance and healthcare costs continue to climb.
“We submitted a request of 1,209 dollars per member per month for fiscal year 27 for the legislature to consider this past session. Governor set her budget and set that rate a little bit lower, and instead of 380 million was going to increase funding by 210,” said Neah Scott with the Retirement Systems of Alabama Legislative Council…