West Virginia HB5527 regulates wellness reimbursement programs by requiring licensing, compliance with federal and state laws, and periodic reporting.

West Virginia HB5527 establishes regulations for wellness reimbursement programs, which are self-insured medical plans or wellness integrated medical plan expense reimbursement plans. The bill mandates that administrators of these programs must be licensed by the state Insurance Commissioner. Licensing requires an initial fee of $5,000 and annual financial statements. The commissioner can revoke or suspend licenses for violations, including deceptive practices. The bill also requires administrators to comply with federal and state laws, maintain surety bonds, and keep accurate records.

West Virginia HB5527 regulates wellness reimbursement programs by requiring licensing, compliance with federal and state laws, and periodic reporting.

West Virginia HB5527 establishes regulations for wellness reimbursement programs, which are self-insured medical plans or wellness integrated medical plan expense reimbursement plans. The bill mandates that administrators of these programs must be licensed by the state Insurance Commissioner. Licensing requires an initial fee of $5,000 and annual financial statements. The commissioner can revoke or suspend licenses for violations, including deceptive practices. The bill also requires administrators to comply with federal and state laws, maintain surety bonds, and keep accurate records.