FACT SHEET: The Benefits of Expanding Member-Based, Nonprofit Health Plans in Missouri

March 07, 2023

By Abigail Chance

Download
Full Report

GIve missourians more control over health benefits

Farm Bureaus are an example of member-based, nonprofit organizations that can offer health benefits to members in states that have provided exemptions from state insurance regulation. Six states^{^[1]} have authorized these plans.^{^[2]} This session, the Missouri General Assembly is considering policies in SB 11 and HB 464 to allow the state Farm Bureau and nonprofit membership organizations to offer similar options to their members and families.^{^[3]}^,[4]
Farm Bureau and nonprofit membership organization health plans can be low-cost and high-quality options. The Tennessee Farm Bureau has offered health plans of its own for more than 30 years, leading the way for other states.

Tennessee Farm Bureau Health Plan premiums can be as much as 77% lower than other insurance options.[5]
In 2023, the Tennessee Farm Bureau is offering a $0 premium Medicare Advantage plan. The plan combines medical, hospital, and prescription drug coverage in one plan and provides extra benefits that traditional Medicare does not cover, like vision and dental benefits.^{^[6]}
These plans generate a high level of beneficiary satisfaction and quality. For example, the Indiana Farm Bureau began offering plans in 2020, and 96% of its members surveyed in 2021 said they would recommend the plans to others.[7]
Indiana Farm Bureau Health Plan premiums for some plans remained stable for the second consecutive year between 2022 to 2023,^{^[8]} while premiums for silver-tier plans in the individual market increased 4.1% from 2022 to 2023.^{^[9]}
In a recent statement, the Missouri Farm Bureau said that if SB 11 were to become law, Farm Bureau plans are projected to cost 30% less than comparable ACA plans.^{^[10]}

Farm Bureau Health Plans expand medical coverage to many Americans, including those in rural areas, who otherwise may not have affordable coverage options.

Fiscal analysis from Iowa estimates that 83% of those covered by Farm Bureau health plans would otherwise be uninsured.^{^[11]}
Following the passage of HB 3924 in 2021,^{^[12]} the Texas Farm Bureau now offers health plans with many standard benefits, such as telemedicine, mental health and substance abuse treatment, prescription drug coverage, and maternity and newborn care.^{^[13]}