MORGANTOWN, W.Va. — Starting August 1, employees of Monongalia County will be able to apply for a new health insurance plan that will add a health savings account that will create a tax benefit.
The account will consist of $2,000 that an employee can use towards health insurance bills. All employees will continue to have the same rate as before, but will have the option for the savings account.
Monongalia County Commission approved the health insurance premium increase during Wednesday’s meeting. Commissioner Sean Sikora expects a 10 percent employee participation rate at first, but believes this will save the county money.
“We expect a slow participation rate in the beginning,” said Sikora. “But this is something that we really expect going forward, with a lot of employees moving to, saving the county a lot of money, and saving employees a lot of money.”
Mon. County insurance agents will have enrollment meetings to describe the insurance premium more in depth for the employees.
Employees who were hired before 2001 have a different insurance rate than employees who were hired after 2001. Sikora said they are trying to keep all rates the same, but may have to raise the rates for employees before 2001 to accommodate each employee.
Sikora referred to the savings account as a 401 K plan, because the money in the account will stay until the employee needs it.
“And that account is like a 401K, it stays with you forever,” said Sikora. “That’s just an option. It’s what the future of health care needs to go to, employees need to be responsible of their own health care.”