Portable benefit accounts; allow hiring party to contribute funds to for benefit plans for independent contractors.

HB 866 allows businesses (hiring parties) to contribute funds to portable benefit accounts for independent contractors, enabling contractors to access benefits like health insurance, retirement plans, or life insurance. Businesses may set aside a portion of payment via a written agreement that both parties voluntarily agree to in writing, with contractors able to opt out at any time. The bill explicitly states these contributions cannot be used to reclassify workers as employees or affect liability under Mississippi’s Workers’ Compensation Law. This policy change directly impacts independent contractors and hiring businesses in Mississippi, providing a structured way to support benefits without altering employment status.