Except as provided in subsection (c) of this section, an employer subject to this title shall pay each employee covered under this title: at least $11.30 per hour, if State contract services valued at 50% or more of the total value of the contract are performed in the Tier 1 area; or at least $8.50 per hour, if State contract services valued at 50% or more of the total value of the contract are performed in the Tier 2 area. Not later than 90 days after the start of each fiscal year, the Commissioner shall adjust the wage rates required under subsection (a) of this section by the annual average increase or decrease, if any, in the Consumer Price Index for all urban consumers for the Washington Metropolitan Area, or any successor index, for the previous calendar year. If the Commissioner adjusts the wage rates in accordance with paragraph (1) of this subsection, the Commissioner shall publish the new wage rates on the Division of Labor and Industry’s website. On request by any person, the Commissioner shall give the person a printed copy of the new wage rates. If an employer commits in its bid or proposal to provide health insurance to an employee, either directly or through an employee representative, the employer may: certify in its bid or proposal the hourly cost of the employer’s share of the premium for that insurance for each employee; and reduce the wage rate paid under subsection (a) of this section to any employee covered by the insurance by all or part of the hourly cost of the employer’s share of the premium for each employee. The Commissioner may authorize, by regulation, an employer to reduce the wage rates paid under subsection (a) of this section by no more than 50 cents of the hourly cost of the employer’s contribution to an employee’s deferred compensation plan.