FOR IMMEDIATE RELEASE
Jan 24, 2014
State Bar of Texas announces changes to Insurance
AUSTIN — Changes are in store for the State Bar of Texas Insurance Trust (the Trust) to ensure members have the best options available to them under a changing insurance landscape brought on by the Affordable Care Act.
Member Benefits, Inc. has been appointed as the third-party administrator of the Trust. Member Benefits is also the administrator of the Texas Bar Insurance Exchange, which is a multi-carrier private exchange designed for State Bar of Texas members and their staffs and dependents.
The changes will occur as follows:
—Under its new third-party administrator agreement with the Trust, Member Benefits will administer and sell Prudential products through traditional methods and also through the Texas Bar Private Insurance Exchange. These Prudential products include life, long-term disability, office overhead, and personal accident insurance.
—Aetna health plans currently with the Trust will be terminated on June 30 because of changes under the Affordable Care Act. Member Benefits, as the Trust’s third-party administrator, will assist attorneys who have Aetna plans with the transition to ACA-compliant individual major medical plans through the Texas Bar Private Insurance Exchange.
—Member Benefits has purchased all of the insurance policy assets of the SBIT Insurance Agency, a subsidiary of the Trust. Member Benefits will provide ongoing service for those policies. As health insurance policies come up for renewal, those customers will be provided with the option to move into ACA-compliant plans through the Texas Bar Private Insurance Exchange.
The State Bar of Texas is an administrative agency of the Supreme Court of Texas that provides educational programs for the legal profession and the public, administers the minimum continuing legal education program for attorneys, and manages the attorney discipline system. For more information, visit www.texasbar.com.