Bill > SB68

This bill, titled the "Voluntary Portable Benefit Account Act," establishes a new framework for independent contractors to manage their benefits. It defines key terms such as "bank," "hiring party" (someone who contracts with an independent contractor), and "voluntary portable benefit account," which is an account opened by an independent contractor to fund benefits like health insurance, income replacement, life insurance, or retirement plans, and is managed by a "voluntary portable benefit account provider" (which can be a bank, investment firm, or other approved entity) and assigned to the contractor, not an employer. The bill allows for voluntary contributions to these accounts by various entities, including the hiring party or a portion of the contractor's compensation if explicitly agreed upon in writing, with clear opt-in and opt-out provisions for the independent contractor, ensuring that contributions do not affect their employment classification.

Business and Industry

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=68&year=2026&sessiontype=RS&btype=bill