The bill introduced on February 3, 2026, seeks to create the "West Virginia Portable Insurance Benefit Plan," aimed at providing portable insurance benefits specifically for independent contractors. It establishes a finance board composed of various stakeholders, including independent contractors and hospitals, to oversee the program's financial stability and operational management. The bill emphasizes that contributions to the plan by hiring parties are voluntary and will not affect the employment classification of independent contractors. Key provisions include the requirement for the finance board to obtain an actuary's opinion on financial plans, conduct public hearings, and submit an annual prospective financial plan while restricting cost increases for independent contractors unless a true emergency arises.

Additionally, the bill grants the director significant authority to manage the plan, including executing contracts for insurance coverage and professional services while exempting these from certain purchasing regulations. It mandates transparency in claims processing by requiring reporting from pharmacy benefit managers and establishes penalties for violations, including fraud. The legislation also introduces provisions for cost-sharing between independent contractors and hiring parties, coverage for spouses and dependents, and ensures that retired independent contractors can access health insurance. The director is tasked with developing programs that qualify for favorable federal tax treatment and creating a preferred provider system for healthcare delivery.

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-11a, 5-16E-11b, 5-16E-12, 5-16E-13, 5-16E-14, 5-16E-15, 5-16E-16