Governor Youngkin Signs REALTOR Health Insurance into Law
Governor Glenn Youngkin has approved House Bill 768 and Senate Bill 335, opening the door for the Virginia REALTORS association, the commonwealth’s largest trade association, to explore offering health insurance options to its members. The legislation passed both the House and Senate with near-unanimous, bipartisan support.
This win comes after more than three years of efforts to pass legislation that would open the door for REALTORS in Virginia to qualify for affordable health insurance options. Research conducted by Virginia REALTORS in 2019 revealed that up to 20% of the association’s membership—which currently sits at more than 36,000—go without health insurance due to the prohibitive cost.
“Nearly all of our REALTOR members are independent contractors,” says Virginia REALTORS® 2022 President Denise Ramey. “Many people don’t realize that this designation means REALTORS® do not qualify for any traditional employer-based health insurance. Even if they are affiliated with a large, prominent brokerage, health insurance is not provided to them. Finding a way to secure more insurance options for our members has been key to our legislative efforts for several years.”
Senator George Barker sponsored the bill in the Senate while Delegate Keith Hodges carried it in the House. “The passage of Senate Bill 335 and House Bill 768 marks the culmination of years of effort to bring affordable and quality healthcare to Virginia’s REALTORS,” says Senator Barker. “I have been honored to work with the Virginia REALTORS on this legislation and would like to thank their leadership team and staff for their countless hours of work to get this done.”
While this victory opens new opportunities for the REALTORS of Virginia, more work lies ahead. “This is undoubtedly a huge milestone for Virginia’s REALTORS, as we have been fighting for the passage of this legislation for years now,” says Virginia REALTORS Senior Vice President of Government Relations Martin Johnson. “However, while many may feel as though this is the end of the process, it’s important to remember that this is, in fact, the completion of phase one. Now, our work pivots toward turning this law into a reality for our members, and we are eager to get started.”
