Cooperative Link: Spring 2006

INSURANCE

VEBA Plans Proving Their Worth

Consumer driven health plans are gaining popularity every day. Evidence continues to accumulate, showing that the Service Coop VEBA Plans are working well. We now have VEBA Plans in 34 school districts, cities and counties; and the number continues to grow with more being added for next year. Our active members now collectively have two and one half million in their VEBA accounts, an average of $1200 for each member. When retirees are included the average VEBA account rises to $1400. Utilization has been slowed and rate of increase has been diminished. Individuals are now well along on the path of providing themselves with a health care retirement nest egg. And it’s growing, tax free.

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