Health Insurance Resources

The efforts of the Virginia REALTORS® Government Relations team to get REALTOR® health insurance signed into law have proven successful. Governor Glenn Youngkin has approved House Bill 768 and Senate Bill 335, opening the door for our association to explore offering health insurance options to our members.

This passage is the FIRST step of many we will be taking to turn this law into a reality for our members. This resource page will keep our members updated along the way, providing resources and clarifications. Please visit regularly, as updates will be added throughout the process.

Download a printable version here – REALTOR® Health Insurance FAQ


Frequently Asked Questions

 

Q. What does this mean for me?

A. Our legislation allows our association, Virginia REALTORS®, to work with insurance companies to try to develop health insurance plans that we can then offer to you, as a member.

Q. What will this insurance cover?

A. Under the legislation, as approved, this insurance will cover EVERYTHING that is required under the federal law as well as anything that is required to be covered under state law.

Specifically, under federal law, these items are covered:

  • Ambulatory patient services (outpatient care you get without being admitted to a hospital)
  • Emergency services
  • Hospitalization (e.g., surgery, overnight stays)
  • Pregnancy, maternity, and newborn care(both before and after birth)
  • Mental health and substance use disorder services, including behavioral health treatment (this includes counseling and psychotherapy)
  • Prescription drugs
  • Rehabilitative and habilitative services and devices (services and devices to help people with injuries, disabilities, or chronic conditions gain or recover mental and physical skills)
  • Laboratory services
  • Preventive and wellness services and chronic disease management
  • Pediatric services, including oral and vision care (Note that adult dental and vision coverage are NOT essential health benefits.)

Plans must also include the following benefits:

 

Q. When will I be able to sign up for this insurance?

A. We are not sure. Passing the bill and having the Governor sign it into law are just the first steps of what could be a lengthy process. After the bill becomes law on July 1, 2022, we will need to work with insurance companies in Virginia to determine their interest in providing a plan to our members. We then need to seek approval from the State Corporation Commission (the regulatory agency for health insurance in Virginia) for our plans. We will also need to set up an entity of REALTOR® members to oversee the plans. Finally, we may need to work with the federal government and the Office of the Attorney General on any legal challenges that could come.

As you can see, this could take some time and we will need to be patient. Please follow along with our email and social media communications for updates, as well as important reminders as we proceed.

Q. Now that we have passed a bill, does this guarantee that I will get insurance?

A. No. As we have discussed, passing a bill is the first (but most important) step in the process. Like with any other insurance program, it will be up to health insurance companies to determine their interest in doing business with us. Nothing in this new law requires them to write an insurance plan for us.

Q. Will this insurance save me money or be cheaper than what is currently available?

A. This all depends on what type of insurance you have today. While we do believe that we can be competitive with those of you who purchase insurance on the “ACA Individual Market” or the “Exchange,” it is not guaranteed. That is what our insurance carrier will tell us once they have done their underwriting and worked with their actuaries to determine our rates.

This plan was always meant to give you, as a member of Virginia REALTORS®, another health coverage option. It is up to you to determine if our plan meets the needs of you and your family.  You should consider any and all factors before signing up.

Q. Where can I get updates on this process?

A. As we move through the process of working with the federal government, state regulators, and insurance companies, we will keep you apprised of the situation.

Make sure you read our “Breaking News” emails and weekly e-news articles, follow us on social media, subscribe to your local association communications, and refer back to this resource page for more details as they become available.