Members will be able to 'shop and compare' insurance plans this spring.
Trustees of the American Veterinary Medical Association (AVMA) Group Health and Life Insurance Trust (GHLIT) made the decision on Feb. 4 to establish a private health exchange to assist members with securing health insurance coverage.
“The exchange will allow [AVMA] members to shop and compare health insurance plans and costs to see which plan best suits their needs,” GHLIT CEO Libby Wallace told dvm360 Tuesday. “More information will be provided to members on this exchange in the coming weeks.” In fact, there will be a meeting tomorrow to continue planning for the exchange.
The approximately 17,500 AVMA members and their dependents have been anxious for news regarding assistance in securing new medical coverage as policies with former GHLIT underwriter New York Life terminate Jan. 1, 2014. State health exchanges to be set up under the Patient Protection and Affordable Care Act are purported to be operational by October, but some experts feel there is too much uncertainty with the new exchanges to be confident about obtaining coverage. GHLIT plans to have its exchange up much sooner.
“It will definitely be in place this spring,” Wallace says. “We’re very excited about it.”