Health Care Funding Act; created. (HB258)

Introduced By

Del. Jeion Ward (D-Hampton)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

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. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/04/2006Prefiled and ordered printed; offered 01/11/06 065634534
01/04/2006Referred to Committee on Commerce and Labor
01/17/2006Stricken from docket by Commerce and Labor