Whether you are an hourly worker, a patient navigating medical bills, or a family planning your 2026 budget, these three new laws will play a significant role in your financial outlook this year.
1. The $12.77 Minimum Wage Increase
Effective January 1, 2026, Virginia's statewide minimum wage has officially increased from $12.41 to $12.77 per hour. This adjustment marks the latest step in Virginia's transition to a wage model tied to the Consumer Price Index (CPI-U).
- Inflation Tracking: The $0.36 increase is a direct result of a 2.9% inflation rate recorded throughout 2024. By indexing the wage to the cost of living, the state aims to preserve the purchasing power of low-wage workers.
- Who It Affects: This rate applies to most full-time, part-time, and temporary workers across the state. While certain seasonal exemptions remain, the vast majority of Virginia's workforce is now eligible for this higher base pay.
- Tipped Employees: While the minimum cash wage for tipped workers remains $2.13, employers must ensure that the combination of base pay and tips equals at least $12.77 per hour.
2. No-Cost Cancer Screenings (HB 1828 & HB 2097)
Virginia has officially expanded mandatory insurance coverage for essential preventive screenings. Starting with state-regulated plans issued or renewed in 2026, new rules eliminate out-of-pocket costs for critical early detection of breast and prostate cancer.
- Breast Cancer Screening: Insurance companies are now prohibited from charging copayments, deductibles, or coinsurance for breast cancer screenings—including diagnostic mammograms, MRIs, and ultrasounds—when they are medically necessary or ordered by a doctor.
- Prostate Cancer Screening: Similar protections have been updated for prostate cancer screening, ensuring that high-risk individuals can access blood tests (PSA tests) and exams without financial barriers.
- The Financial Impact: For many Virginians on high-deductible health plans (HDHPs), this change can save hundreds of dollars in annual preventive care costs, encouraging earlier detection when treatment is most effective and least expensive.
3. The Medical Debt Protection Act
While many laws take effect on New Year's Day, Virginians have a significant financial safeguard arriving mid-year. The Medical Debt Protection Act (HB 1725) is set to take effect on July 1, 2026, offering some of the strongest protections in the country against aggressive medical billing.
- Interest Rate Caps: Once active, the law prohibits extensive healthcare facilities from charging interest or late fees on medical debt for the first 90 days. After that, any interest is strictly capped at just 3% per year, down significantly from previous allowable rates.
- Collection Safeguards: The act bans "extraordinary collection actions," such as foreclosing on a primary residence or placing liens on personal property to satisfy medical bills.
- Wage Protections: It also prohibits wage garnishment for individuals who qualify for financial assistance under thefacility'ss own policy, ensuring that medical crises do not lead to total economic collapse.
A Stronger Safety Net for Virginians
The legal landscape of 2026 reflects a Virginia that is increasingly focused on protecting the "middle-class wallet." Between the inflation-indexed wage increase and the aggressive new protections against medical debt, the state is attempting to build a more resilient financial environment for its citizens. While these changes may present new compliance challenges for businesses, the overall goal is clear: providing more transparency in debt, lower barriers to essential healthcare, and a wage floor that keeps pace with a changing economy. As these laws take full effect throughout the year, Virginians are encouraged to stay informed of their rights to ensure they receive the full financial benefits intended by this new legislation.