The Financial Services Institute has joined a coalition of organizations aimed at protecting and promoting Association Health Plans, with the goal of launching one for its independent broker/dealer and advisor members in 2019. A group of 16 associations representing a variety of industries formed The Coalition to Protect and Promote Association Health Plans this week.
“Our financial advisor and small firm members are in great need of quality, affordable healthcare,” FSI said in a statement. “We should be doing everything possible to lower rates and offer quality plans for as many Americans as possible. Our coalition will work tirelessly to ensure access goes up and rates come down.”
In June, the Department of Labor came out with a rule allowing national trade associations to offer small employer and independent contractor members the same type of health coverage one gets at a large employer. These health plans work by allowing small businesses to band together to obtain health coverage as if they were a single large employer. The regulation was a direct result of an executive order by President Trump.
FSI doesn’t currently offer a health plan because there are many hurdles to get over, said Chris Paulitz, senior vice president of membership and marketing. But the group has joined the coalition to advance its goal. It also serves on the steering committee of the coalition.
The coalition hopes to develop standards and principles for operating an AHP, as well as fight fraudulent players in the space. Other members include the American Farm Bureau Federation, American Society of Association Executives, American Veterinary Medical Association, Associated Employers Benefit & Trust, Association of Web-Based Health Insurance Brokers, Foundation for Government Accountability, Indiana Credit Union League, International Franchise Association, Michigan Dental Association, National Apartment Association, National Association of REALTORS, NFIB, National Restaurant Association, National Marine Manufacturers Association and the Transportation Intermediaries Association.