Vermont Business Magazine BRS has announced that it will offer new Association Health Plans (AHPs) through BlueCross and BlueShield of Vermont (BCBSVT). Association health plans had been dismantled under the original Affordable Care Act (Obamacare), which was signed into law by President Obama in 2010. As rules for the ACA have changed over the years, association plans are now allowed by the federal government. Vermont earlier this year instituted conditions under which association plans could once again be offered in Vermont. Those rules mimic ACA rules for pre-existing conditions and other key components of the ACA.
The approval of BRS’ license application by the Department of Financial Regulation (DFR) now paves the way for AHPs in Vermont.
“We appreciate the significant work of Commissioner Pieciak and his team at DFR to enact rules and review our license application under such severe time constraints,” said Mitch Fleischer, BRS President, in a statement. “It was crucial to Vermont that this health insurance alternative be available to small businesses as soon as possible.”
AHPs allow small businesses, including self-employed workers, to band together by geography (or industry) as if they are one single entity thereby creating a larger risk pool, greater security, and potentially lower costs.
Chambers of commerce once again to offer health insurance plansvermontbiz.com The Vermont Association of Chamber of Commerce Executives announced Friday that its organization will once again be offering a variety of health insurance plans to its 29 chambers and many members throughout the state for the first time since 2013. The statewide chamber organization will partner with BlueCross BlueShield of Vermont to provide three separate plans to businesses, ranging in size from 1 to 100 employees: the VACE Advantage 100 percent Health Savings Account, the VACE Advantage Copay and the VACE Advantage Copay HSA. |
BRS, in collaboration with BCBSVT, designed 4 health plans that include a wellness component. These plans will be offered to BRS members with their principal place of business in Vermont and 100 or fewer full-time employees.
For comparison purposes (2019), the BRS Plan A has the same deductible as the Blue Cross standard Gold Plan ($850), total out-of-pocket costs are less ($4,500 total versus $4,700 medical + $1,350 pharma) but co-pays are higher, and the monthly premium is about a $100 less.
Basically with the BRS plan A, if you used very little health care, you'd save money, or if you maxed out you'd save money. But if you go to the doctor a lot or went to the emergency room ($500 versus $150) it potentially could be more expensive. (SEE TABLE BELOW)
Fleischer said, “BRS has a long history of partnering with BCBSVT so we were excited to do so again and to provide such a meaningful opportunity for small businesses.”
Don George, BCBSVT’s President & CEO said, “BCBSVT is pleased to partner with BRS to offer small businesses new health care coverage options while improving the health and wellness of Vermont employees, all at a lower cost.”
Open enrollment for BRS AHPs runs from November 1st to December 15th for coverage effective January 1, 2019.
BRS has been providing business solutions to members for over 30 years. More information about BRS and Association Health Plans can be found at www.brsvt.com
Source: South Burlington, October 11, 2018: BRS