New Hampshire, Vermont Receive Seven Requests for Information
Concord, NH - Following New Hampshire and Vermont's January 30th Request for Information (RFI) regarding the Twin State Voluntary Leave Plan, seven companies submitted Requests for information regarding the Twin State Voluntary Leave Plan.
"We are pleased with the high-level interest from these insurers, and our state experts will continue to review these RFI's," said Governor Chris Sununu. "There is no question that the Twin State Voluntary Leave Plan will be viable and financially sustainable – without an income tax."
It's encouraging to have early interest from potential partners on our Twin State Voluntary Leave plan," said Governor Phil Scott. "The responses we've received demonstrate the merit of our approach, which creates access to a cost-effective paid family leave benefit for residents of both states, while supporting a strong economy."
"We applaud the work of Governor Sununu in raising the level of awareness regarding this important public policy issue…," said Sun Life Financial. "We agree that the Twin State Plan's concept that the private disability insurance marketplace can be a partner for government sponsored PFML programs."
"The Standard applauds New Hampshire and Vermont on the approach to utilize the expertise of private insurance carriers for guidance and implementation of their plan," said the Standard Insurance Company. "Additionally, it appears there is a desire to provide workers with valuable benefits that promote a healthy work-life balance while also keeping the plan design simple and competitively priced."
"We commend the Twin States for correctly addressing the concerns surrounding the risks and costs of implementing FMLI as well as the need for the administrator to possess sophisticated level of technical expertise," said the Total Administrative Services Corporation. "Using our model to administer the FMLI plan, the risk of insolvency for a paid leave program is shifted from taxpayers to TASC; the startup and ongoing administrative costs of establishing the new programs is shifted from taxpayers to TASC; and the coverage will be available more quickly as it will not be necessary for each state to develop the required administrative infrastructure or to initially fund a paid leave trust."
"We applaud your efforts to create a bi-state family medical leave insurance program for approximately 18,500 Vermont and New Hampshire state government employees as well as extending the option of participation to private and other public employers, their employees and self-employed individuals," said MetLife Insurance.
Insurers who submitted an RFI:
- Standard Insurance Company
- The Hartford Financial Services
- Total Administrative Services Corporation
- Sun Life Financial