Creating Voluntary Portable Benefit Account Act

SB 68 creates the "Voluntary Portable Benefit Account Act" in West Virginia, allowing independent contractors to open personal accounts to fund benefits like health insurance, retirement, or life insurance. Businesses hiring independent contractors (called "hiring parties") may voluntarily contribute to these accounts, but only with the contractor’s explicit written agreement and opt-in consent. The bill explicitly prohibits using these contributions to determine a worker’s employment classification as an independent contractor. It defines key terms and ensures contributions cannot be used as a factor in worker classification decisions.