State Rep. Laura Cox gave testimony today on House Bill 5421, a bill she sponsored to address the management of Healthcare Voluntary Employees Beneficiary Association (VEBA) plans, before the House Committee on Financial Liability Reform.
HB 5421 proposes accountability and good governance measures, such as subjecting the Voluntary Employee Beneficiary Association boards to the public’s eye by having to comply with the Open Meetings Act and FOIA.
Rep. Cox was joined by Don Taylor, president of the retired Detroit Police and Firefighters Association.
“This bill ensures that the beneficiaries of these VEBA plans have a voice, and includes mechanisms to hold board members to a certain standard,” said Rep. Cox.
The bill waits to be voted on by the committee before being considered on the House floor.