SCC Readies the Virginia Health Benefit Exchange; Names Director of New SCC Division

Financial

AUG 31, 2020

RICHMOND – Virginia is establishing a state-based health insurance exchange for the individual and small business market. The Virginia Health Benefit Exchange will operate on the federal exchange – HealthCare.gov – for 2021. Open enrollment to select a Virginia health plan for 2021 will begin on November 1, 2020.

The Virginia Health Benefit Exchange was created by the 2020 Virginia General Assembly to be operated as a new division within the State Corporation Commission (SCC). It is expected to transition to a full state-based exchange by plan year 2023.

Beginning this fall and throughout the transition, the Virginia Exchange will perform all consumer outreach and education activities and offer consumer assistance.

The Commission has appointed Victoria I. Savoy to direct the division. There will also be a 15-member advisory committee to advise and provide recommendations to the Commission and the director in carrying out the purposes and duties of the exchange.

The Virginia Exchange will be an online marketplace where qualified individuals can shop for, compare and enroll in health insurance coverage. Additionally, through the marketplace, small business employers may enroll eligible employees directly through qualified health plan issuers, qualified dental plan issuers, or licensed agents as established by the Virginia Exchange.

The Virginia Exchange already offers information about Certified Application Counselor Designated Organizations (CDOs), Certified Application Counselors (CACs), and Navigators on the SCC website at: https://scc.virginia.gov/pages/Exchange.

Savoy joins the Commission on September 21. Most recently, she has been the assistant dean for Finance and Administration for the School of Pharmacy at Virginia Commonwealth University. She is returning to the SCC after 13 years in higher education in various capacities overseeing the financial operations of those institutions, including the University of Virginia.

Savoy previously worked at the SCC from 1993 to 2007. In addition to serving as the assistant deputy commissioner of the life and health section of the SCC’s Bureau of Insurance, she was the chief financial auditor in the Bureau’s financial regulation section.

A licensed certified public accountant, Savoy earned her degree in accounting from Virginia Tech and a master’s degree in the management of information technology at the University of Virginia.

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Contact: Ken Schrad, 804-371-9858