This bill proposes the addition of a new article to the Code of West Virginia, specifically addressing the licensing and regulation of wellness reimbursement plans, which include self-insured medical plans and wellness integrated medical plan expense reimbursement plans. The bill outlines definitions for key terms such as "wellness reimbursement program," "administrator," and "broker," and establishes that these programs must be licensed by the Insurance Commissioner. It sets forth the requirements for obtaining a license, including an initial fee of $5,000, compliance with federal ERISA requirements, and the maintenance of records for inspection. Additionally, the bill stipulates penalties for non-compliance, including fines and potential imprisonment for unlicensed operation.

Furthermore, the bill clarifies that wellness reimbursement programs do not apply to individual or group health plans, ensuring that these programs are treated as separate entities. It mandates that the Insurance Commissioner will file a report with the Legislature every three years to assess the implementation of the article and its requirements. The bill aims to create a structured framework for wellness reimbursement programs, ensuring they operate within the bounds of state and federal law while providing oversight to protect consumers.

Statutes affected:
Introduced Version: 33-64-1, 33-64-2, 33-64-3, 33-64-4, 33-64-5, 33-64-6, 33-64-7