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SB934

Benefits consortium; formation by a sponsoring association.

Status:
Vetoed

Chief Patron:
Siobhan Dunnavant (R)

Session:
2018 Regular Session

Summary

As Passed House of Origin. Benefits consortium.

Authorizes an association organized as a nonstock corporation whose members are employers conducting business in the Commonwealth to sponsor a trust. The measure authorizes the trust, called a benefits consortium, to sell benefits plans to its members. To be eligible to sponsor a plan, the association is required to have been actively in existence for 10 years, have at least five members, have been formed for purposes other than obtaining or providing health benefits, and operate as a nonprofit entity. A wholly owned subsidiary of such an entity is eligible to be a sponsoring association. The benefits plans may provide medical prescription drug, dental, and vision coverage for the employees of members and the sponsoring association and their dependents. The benefits may be self-funded or purchased from an insurer. The benefits consortium will be a multiple employer welfare arrangement subject to the provisions of the federal Employee Retirement Income Security Act of 1974. The measure exempts the benefits consortium from state taxation and insurance regulations. (Less)

  • Bill History

  • 01/19/2018 - Senate: Presented and ordered printed 18104849D
  • 01/19/2018 - Senate: Referred to Committee on Commerce and Labor
  • 01/28/2018 - Senate: Impact statement from SCC (SB934)
  • 01/29/2018 - Senate: Reported from Commerce and Labor with amendment (14-Y 0-N)
  • 01/31/2018 - Senate: Constitutional reading dispensed (39-Y 0-N)
  • 02/01/2018 - Senate: Read second time
  • 02/01/2018 - Senate: Reading of amendment waived
  • 02/01/2018 - Senate: Committee amendment agreed to
  • 02/01/2018 - Senate: Engrossed by Senate as amended SB934E
  • 02/01/2018 - Senate: Printed as engrossed 18104849D-E
  • 02/02/2018 - Senate: Read third time and passed Senate (38-Y 0-N)
  • 02/08/2018 - House: Placed on Calendar
  • 02/08/2018 - House: Read first time
  • 02/08/2018 - House: Referred to Committee on Commerce and Labor
  • 02/12/2018 - Senate: Impact statement from SCC (SB934E)
  • 03/01/2018 - House: Reported from Commerce and Labor (12-Y 9-N)
  • 03/05/2018 - House: Read second time
  • 03/06/2018 - House: Read third time
  • 03/06/2018 - House: Passed House (51-Y 46-N)
  • 03/06/2018 - House: VOTE: PASSAGE (51-Y 46-N)   Close Floor Vote
  • 03/08/2018 - Senate: Enrolled
  • 03/08/2018 - Senate: Bill text as passed Senate and House (SB934ER)
  • 03/08/2018 - House: Signed by Speaker
  • 03/09/2018 - Senate: Impact statement from SCC (SB934ER)
  • 03/10/2018 - Senate: Signed by President
  • 03/16/2018 - Senate: Enrolled Bill Communicated to Governor on March 16, 2018
  • 03/16/2018 - Governor: Governor's Action Deadline Midnight, April 9, 2018
  • 04/09/2018 - Senate: Governor's recommendation received by Senate
  • 04/18/2018 - Senate: Senate rejected Governor's recommendation (18-Y 21-N)   Close Floor Vote
  • 04/18/2018 - Senate: Communicated to Governor

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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