HB258: Health Care Funding Act; created.

Chief Patron

Del. Jeion Ward (D-92)

Status

Bill is Dead

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Summary

Health Care Funding Act; penalties.  Requires every employer with more than 10,000 employees to report annually to the Commissioner of Labor and Industry the amount spent, and the percentage of its payroll that was spent, on health insurance costs for its employees. If the percentage of payroll spent on health insurance costs is less than the statewide average of the percent of wages that was spent on employee health insurance costs by all employers in the Commonwealth with more than 250 employees, the employer is required to pay an amount equal to the difference between what the covered employer spends for health insurance costs and an amount equal to the required percent of the total wages it paid to its employees. The revenue from the assessment is paid in to the Virginia Family Access to Medical Insurance Security Plan Trust Fund. Violations are subject to civil penalties.   View Full Text »