House Bill 2965 proposes an amendment to the Code of West Virginia by adding a new section, 5-16-27, which aims to redirect funds currently paid by employers for state employees' insurance to a Health Savings Account (HSA). Under this bill, all employer contributions to the Public Employees Insurance Agency (PEIA) will instead be allocated directly to employees in the form of an employer/employee match, with a monthly deposit of $1,100 into the HSA. This account can be utilized by employees for healthcare insurance premiums and related expenses.

Additionally, the bill grants employees the autonomy to select their own healthcare providers using the funds from their HSA. The proposed changes are set to take effect on July 1, 2025. The overall intent of the bill is to provide greater flexibility and control over healthcare spending for state employees by allowing them to manage their own insurance plans through the HSA.

Statutes affected:
Introduced Version: 5-16-27