CHARLESTON — The House of Delegates Committee on Finance Wednesday originated and approved a bill that would immediately transfer $29 million from the state’s Rainy Day Fund to the Public Employees Insurance Agency to guarantee there would be no changes to employee health care programs for the coming fiscal year.

“This bill demonstrates this Legislature’s commitment to ensuring there be no changes to public employees’ PEIA plans in the coming year,” said House Finance Committee Chairman Eric Nelson, R-Kanawha. “Transferring this money now will ensure there are no changes to employees’ co-pays, deductibles and out-of-pocket expenses in the coming fiscal year.”

The Finance Committee on Wednesday morning originated House Bill 4620 to immediately transfer the $29 million needed to ensure there are no changes to PEIA in the coming year from the Revenue Shortfall Reserve Fund, which along with the separate Revenue Shortfall Reserve Fund-Part B are known generally as the state’s Rainy Day Fund.

The $29 million will be transferred to the PEIA Basic Insurance Premium Fund. Because it is being directly transferred to this specific fund, it will not be subject to the statutory 80-20 cost-sharing rule, and therefore will not trigger an increase in employees’ premiums in the coming year, legislators said.

Delegate Bill Anderson, R-Wood, is a co-sponsor of House Bill 4620. The bill now heads to the House floor for further consideration.