The proposed bill seeks to create the "West Virginia Portable Insurance Benefit Plan," aimed at providing portable insurance benefits specifically for independent contractors in West Virginia. It introduces a new article to the Code of West Virginia that outlines the administration, definitions, and structure of the insurance plan. Key features include the establishment of a director and a finance board responsible for overseeing the plan, ensuring that contributions from hiring parties are voluntary and do not impact employment classification. The bill emphasizes the protection of independent contractors and retired independent contractors from liability related to contributions to the insurance plan, while also mandating the finance board to develop sustainable financial plans, set reimbursement rates for healthcare providers, and establish premium costs for participants.

Additionally, the bill includes provisions for public engagement, requiring the finance board to conduct at least two public hearings in each congressional district to gather feedback on the proposed financial plan. It specifies that costs to independent contractors cannot be increased except in emergencies and outlines the conditions for invoking such provisions. The director is granted authority to execute necessary contracts for plan administration, exempting them from certain purchasing regulations, and is required to invite bids from qualified insurance companies. The bill also allows for the coverage of spouses and dependents of independent contractors, mandates health insurance for all retired independent contractors, and introduces optional plans for dental, optical, disability, and retirement services. Overall, the legislation aims to enhance the financial stability and operational efficiency of insurance benefits for independent contractors in West Virginia.

Statutes affected:
Introduced Version: 5-16E-1, 5-16E-2, 5-16E-3, 5-16E-4, 5-16E-5, 5-16E-6, 5-16E-7, 5-16E-8, 5-16E-9, 5-16E-10, 5-16E-11, 5-16E-12, 5-16E-13, 5-16E-14, 5-16E-15, 5-16E-16, 5-16E-17, 5-16E-18