Insurance, Health, Accident - As enacted, enacts the "Voluntary Portable Benefit Plan Act"; makes related changes. - Amends TCA Title 50 and Title 65, Chapter 15, Part 3.

HB 494 creates the "Voluntary Portable Benefit Plan Act," allowing employers to contribute to portable benefit plans for self-employed workers (like gig economy contractors). These plans cover health, unemployment, disability, life insurance, and retirement benefits, administered by third-party providers chosen by the worker. Employers can contribute via written agreements that require worker opt-in, with the option to opt-out anytime, and contributions cannot affect how workers are classified as employees or independent contractors. The bill amends Tennessee employment laws to clarify that such contributions are a form of compensation, not a factor in worker classification decisions.