Bill Allowing CUs To Offer Health Insurance Plan Passes In South Dakota

PIERRE, S.D.– A bill that modernizes the South Dakota statute pertaining to Multiple Employer Trusts (Association Health Benefits) has now passed both houses of

CUAD

the South Dakota legislature and is on its way to the governor for his signature.

SB 37, which passed the South Dakota House floor on a 69-0 vote, will allow credit unions in the state to offer expanded health insurance options.

According to the Credit Union Association of the Dakotas, which has strongly supported the legislation, essentially, the bill provides programs such as its CUAD Health Benefits Trust the opportunity to request a waiver from the Director of Insurance to offer the Health Trust to credit unions in South Dakota. The association already offers the program in North Dakota.

‘Thrilled With Passage’

“I am thrilled about the passage of this legislation,” said Keith Robbennolt, president/CEO of Sentinel FCU in Box Elder, S.D., in a statement provided by the CUAD. “This will allow my credit union, and many others in the state, to potentially offer more affordable quality health insurance for our employees. Having the ability to offer affordable health insurance will help all credit unions to attract and retain quality talent within our operations. Plus, this will give the state’s credit unions the buying power of hundreds, if not thousands, where before we could only rely on the numbers of our individual credit unions to price health insurance offerings for our employees. Over time, this could save my credit union thousands of dollars annually.” 

According to the CUAD, the Credit Union Association of the Dakotas Multiple Employer Welfare Arrangement (MEWA) Association Health Benefits program is a $5.5 million-dollar health benefits trust that currently has 20 North Dakota credit unions participating and offers health insurance to over 1,100 credit union employees and their families in North Dakota.

 

 

 

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