WV HB5527

Creates a new licensing framework for wellness reimbursement program administrators in West Virginia, requiring approval from the Insurance Commissioner before selling or operating such programs

Requires an initial license fee of $5,000 and annual renewal fee of $500, with mandatory compliance with federal ERISA requirements and IRS/Department of Labor approval

Defines wellness reimbursement programs as self-insured medical reimbursement plans created under IRS Sections 105, 125, and 213(d) that serve as ancillary products to existing health insurance coverage

Establishes penalties for violations including fines up to $20,000, imprisonment up to two years, and license revocation, with the Insurance Commissioner responsible for enforcement and inspections every three years

Requires wellness reimbursement program administrators to indemnify employers and employees if the program results in unexpected taxable events