Removing Barriers: Expanded Health Care Coverage for Small Businesses and Nonprofits

Governor Glenn Youngkin ceremonially signed House Bill 884 and Senate Bill 195 on June 1, 2022. This new state law aims to create benefits consortiums for Virginia’s small businesses, in addition to nonprofits. According to the governor’s news release, these consortiums allows these entities to come together as a single large pool to offer employees comprehensive and affordable group health care coverage. The ambition is to improve the ability of small businesses to share risk, streamline administration and reduce the costs of coverage.

“This bill is a meaningful step forward to removing the barriers for our small businesses across the Commonwealth, by allowing them to come together and provide health care for their employees,” said Youngkin. “On day one, I made a commitment to our small business community that when this bill reached my desk, I would sign it. Today, I am honored to stand with small businesses and legislators from both sides of the aisle to deliver on that promise. Virginians sent me here to go to work for them, and that is exactly what we are doing. These bills are an example of what we can accomplish when we come together for the communities we serve.”

Since 2018, the Virginia Chamber, in partnership with Virginia’s Farm Bureau, Virginia’s Realtor community, and more than 100 local and regional chambers across the Commonwealth have advocated for this health care solution. The small business and nonprofit communities will need to be patient just a little longer to access the benefits. The product will hit the market in the first quarter of 2023.

If affordable benefits are of interest to you, what can you do while you wait? Local chambers of commerce will be the primary access to the consortiums, so until early 2023 there is an opportunity for Virginia’s small businesses and nonprofits to strategically position the organization and grow resources by building relationships. Relationships are at the heart of any small business or nonprofit’s success. Meanwhile, Virginia Main Street will share new information as available.

Reach out to your local chamber and connect >>