SF0041SS001

This amendment expands portable benefit account coverage to include vision and dental insurance, replaces references to 'bank' with 'financial institution,' and adds a sixty-day notice requirement for hiring parties to opt out of portable benefit account agreements.

• Expands the types of benefit plans that can be funded through portable benefit accounts to explicitly include vision and dental insurance in addition to health benefits, income replacement insurance, life insurance, and retirement benefits. (Page 3, line 3)
• Replaces 'bank' with 'financial institution' in the definition of portable benefit account providers to broaden the types of entities that can administer these accounts beyond just banks. (Page 3, line 9)
• Replaces 'bank' with 'financial institution' in the list of entities that can serve as portable benefit account providers. (Page 3, line 14)
• Adds a new provision authorizing hiring parties to opt out of portable benefit account agreements with at least sixty days' notice to the independent contractor. (Page 5, line 11)

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