H. B. 4453
(By Delegates Hatfield, Brown, Browning,
Fleischauer, Guthrie, Hutchins, Manchin,
Perdue, Perry, Staggers and Williams)
[Introduced February 7, 2008; referred to the
Committee on Banking and Insurance then Finance.]
A BILL to amend and reenact §5-16-15 of the Code of West Virginia,
1931, as amended, relating to the public employees insurance
act; making optional plans available as a section 125 plan of
the Internal Revenue Service or as part of the preferred
provider benefits.
Be it enacted by the Legislature of West Virginia:
That §5-16-15 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 16. WEST VIRGINIA PUBLIC EMPLOYEES INSURANCE ACT.
§5-16-15. Optional dental, optical, disability and prepaid
retirement plan, and audiology and hearing-aid
service plan.
On and after the first day of July, one thousand nine hundred
eighty-nine, the director shall make available to participants in
the public employees insurance system: (1) A dental insurance
plan; (2) an optical insurance plan; (3) a disability insurance
plan; (4) a prepaid retirement insurance plan; and (5) an audiology
and hearing-aid services insurance plan.
The finance board may make these plans available as a section 125 plan of the Internal
Revenue Service or as part of the preferred provider benefits or
other arrangement as determined by the finance board. Public
employees insurance participants may elect to participate in any
one of these plans separately or in combination.
Notwithstanding
anything in this article to the contrary, all actuarial and
administrative costs of each plan shall be totally borne by the
Premium payments
of and other cost sharing by the participants or
local governing bodies electing to participate in that plan
shall
be determined by the finance board. The director is authorized to
employ such administrative practices and procedures with respect to
these optional plans as are authorized for the administration of
other plans under this article. The
director shall finance board
may establish separate funds: (1) For deposit of dental insurance
premiums and payment of dental insurance claims; (2) for deposit of
optical insurance premium payments and payment of optical insurance
claims; (3) for deposit of disability insurance premium payments
and payment of disability insurance claims; and (4) for deposit of
audiology and hearing-aid service insurance premiums and payment of
audiology and hearing-aid insurance claims.
Such funds shall not
be supplemented by nor be used to supplement any other funds.
NOTE: The purpose of this bill is to provide that the PEIA
Finance Board may make optional plans available as an IRS plan or
as part of the preferred provider benefits.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would be added.