The group insurance plans so authorized to be established shall be subject to the following terms and conditions:
The commissioner is hereby authorized and empowered to accept on behalf of the regular employees of the Bureau of Employment Programs, who in writing agree to participate in any plan of group insurance, granted funds provided by the United States department of labor, bureau of employment security, to pay the agency's share of the premium cost of said group policy or policies. The state of West Virginia shall not pay, or be liable for the payment of, any portion of said premiums for such group insurance.