The bill proposes the dissolution of the Public Employees Insurance Agency (PEIA) and its transformation into an employer-owned mutual insurance company, known as the Public Employees Mutual Insurance Company, by July 1, 2025. It introduces the West Virginia Public Employees Insurance Privatization Act, which outlines the governance structure, including the establishment of a board of directors and various funds within the State Treasury. The bill details the transfer of functions, rights, responsibilities, and assets from the PEIA to the Insurance Commissioner and the Public Employees Insurance Council, while also providing civil remedies for the involved parties. Additionally, it includes provisions for the exemption of agency employees from civil service coverage, retraining benefits for laid-off employees, and the establishment of a claims index to assist insurers.

Furthermore, the bill amends existing laws to enhance health insurance coverage for public employees, including specific mandates for coverage of colorectal cancer examinations, breast reconstruction after mastectomy, and patient costs associated with clinical trials. It establishes a cost-sharing structure for premiums, requiring an 80% contribution from employers and 20% from employees, with provisions for adjustments only in emergencies. The bill also emphasizes the importance of public input in financial planning and mandates annual reporting on compliance with behavioral health service parity. Overall, the legislation aims to improve the administration of health benefits, ensure comprehensive coverage, and enhance the efficiency of insurance processes for public employees in West Virginia.

Statutes affected:
Introduced Version: 5-16-1, 5-16-2, 5-16-3, 5-16-4, 5-16-5, 5-16-7, 5-16-7a, 5-16-7c, 5-16-7d, 5-16-8, 5-16-9, 5-16-10, 5-16-11, 5-16-12, 5-16-12a, 5-16-13, 5-16-15, 5-16-16, 5-16-17, 5-16-18, 5-16-24, 5-16A-1, 5-16A-2, 5-16A-3, 5-16A-4, 5-16A-5, 5-16A-6, 5-16A-7, 5-16A-8, 5-16A-9, 5-16A-10, 5-16A-11, 5-16A-12, 5-16A-13, 5-16A-14, 5-16A-15, 5-16A-16, 5-16A-17, 5-16A-18, 5-16A-19, 5-16A-20, 5-16-7e