BOSTON - The Massachusetts House of Representatives and Senate voted unanimously to override Gov. Mitt Romney's veto of a bill - Senate 13 - that allows directors serving on a credit union board who are denied group health insurance coverage by their insurance carrier, to obtain the benefits in a way that's similar in type, scope, and cost of coverage as is offered other plan participants of the credit union and to be reimbursed by the credit union. Both the state House and Senate had previously approved the measure. According to the Massachusetts Credit Union League, the League and the legislation's sponsors were forced to seek an override after Gov. Romney vetoed the bill based on a misinterpretation of the effects of the bill's provisions. Currently, state chartered CUs can provide certain group insurance coverages to employees, officers, and directors. The types of insurance authorized by statute include life, accident and health, and medical, surgical or hospital. The timetable for the implementation of the new law hasn't yet been finalized, but it's expected to take effect in the fall of 2004.
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From the July-28, 2004 issue of Credit Union Times Magazine • Subscribe!
Massachusetts Lawmakers Override Gov's Veto of Insurance-Related Directors Bill
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