Relating to the cessation of PEIA as a public healthcare entity and permitting PEIA to operate as a private healthcare insurance company

HB 2968 ends West Virginia's Public Employees Insurance Association (PEIA) as a state-run healthcare plan and allows it to operate as a private insurance company. Instead of employer payments going to PEIA, the bill requires employers to pay $1,100 monthly directly into employees' Health Savings Accounts (HSAs) for healthcare premiums or related costs. Employees can choose to use these HSA funds for any healthcare provider or continue using PEIA as a private insurer. The change takes effect on July 1, 2025.