Mt. Laurel, NJ – December 31, 2023 – In a strategic move to better reflect the evolving landscape of employee benefits, the Voluntary Benefits Association® (VBA) is excited to announce its name change to the Health & Voluntary Benefits Association® (HVBA). Expanding the VBA’s focus on Healthcare and Health Benefits, as well as Voluntary Benefits, the HVBA developed the Health & Voluntary Benefits Institute® (HVBI) to focus on industry data, fiduciary consulting, health plan analytics and the launch of a first of its kind Group Purchasing Organization (“GPO”).

The decision to incorporate “Health” into our name is in direct response to the overwhelming demand we have had from industry stakeholders to help them develop solutions that leverage the power of Voluntary Benefits while integrating core Health Benefits and the clinical solutions that complement them to meet the rapidly evolving needs of both employers and employees and the carriers and consultants that serve them. Over the past five years, and as Healthcare has become increasingly unaffordable, the previous separation between Voluntary and Health Benefits has been replaced by a marketplace that requires them to be offered in a cohesive and integrated fashion to meet today’s challenges.

Jake Velie, Vice Chairman, President, and COO of HVBA and HVBI, and Chairman and CEO of National Integrative Health, emphasized the significance of this shift, stating, “The Benefits Industries are converging, and we are committed to developing the next generation of solutions with our world-class carriers and service providers for the brokers, consultants and the groups they serve. Our organization is leading this trend and will release numerous new resources and solutions for our members, both individual and corporate, to grow their businesses by solving the most pressing problems facing employees. We are passionate about protecting and strengthening the households of America while also protecting and strengthening the companies and associations that serve them.”

One of the driving forces behind this change is our collaboration among carriers nationwide to create innovative offerings that seamlessly integrate health and voluntary benefits. The focus is no longer only on traditional voluntary offerings but also on how they work together with core health benefits and the shift towards more customized and self-directed plan designs. As healthcare costs continue to rise and with deductibles and out-of-pocket expenses becoming increasingly burdensome, employees find it more and more challenging to access affordable care without the support of other benefits to help pay for these services.

Rob Shestack, Chairman and CEO of HVBA and HVBI, explained, “Voluntary Benefits play a crucial role in bridging the gap by providing ancillary coverages for employees and offering protection against the financial strain that healthcare expenses can impose on families. In a world where out-of-pocket costs can range from $3,000 to $16,000 for a family, voluntary benefits act as an affordable safety net, ensuring that employees can still care for themselves and protect their savings even with skyrocketing healthcare costs.”

The convergence of health and voluntary benefits into one comprehensive offering reflects the commitment of HVBA to safeguarding the health and financial well-being of employees and employers. This strategic evolution aligns with the organization’s mission to provide affordable and impactful solutions that meet the ever-changing needs of the workforce.

For media inquiries, please contact:

Sarah Hunt

Senior Vice President of Administration

Health & Voluntary Benefits Association® (HVBA)

Health & Voluntary Benefits Institute® (HVBI) 

shunt@vbassociation.com

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Health & Voluntary Benefits Association® (HVBA) | Health & Voluntary Benefits Institute® (HVBI)

The Health & Voluntary Benefits Association® (HVBA) and the Health and Voluntary Benefits Institute® (HVBI) are leading providers of comprehensive employee benefits solutions, compliance consulting, product development and industry certifications. With a commitment to innovation and excellence, HVBA & HBVI strives to empower employers and brokers with the tools they need to navigate the evolving landscape of healthcare and voluntary benefits. Through the Health & Voluntary Benefits Association® (HVBA) and the Health & Voluntary Benefits Institute® (HVBI), we are dedicated to advancing industry knowledge and promoting best practices for the benefit of all stakeholders.