The bill amends the Code of West Virginia by introducing a new article that establishes regulations for wellness reimbursement plans, which are defined as plans providing reimbursement or wellness-related benefits to promote health. The legislation mandates that administrators of these plans must be licensed by the Insurance Commissioner, who will oversee compliance with both state and federal laws. The bill outlines the requirements for obtaining and maintaining a license, including the submission of financial statements, adherence to federal ERISA requirements, and the maintenance of a surety bond. It also stipulates that the commissioner has the authority to revoke or suspend licenses and impose civil penalties for violations.

Additionally, the bill clarifies that wellness reimbursement programs do not apply to individual or group health plans, ensuring that these new regulations are distinct from existing health insurance frameworks. It requires the Insurance Commissioner to file a report with the Legislature every three years to assess the implementation of the article and its requirements. The legislation aims to create a structured environment for wellness reimbursement plans while protecting employers and employees from potential legal claims related to these programs.

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
Committee Substitute: 33-64-1, 33-64-2, 33-64-3, 33-64-4, 33-64-5, 33-64-6, 33-64-7
Engrossed Committee Substitute: 33-64-1, 33-64-2, 33-64-3, 33-64-4, 33-64-5, 33-64-6, 33-64-7
Enrolled Committee Substitute: 33-64-1, 33-64-2, 33-64-3, 33-64-4, 33-64-5, 33-64-6, 33-64-7