The goal of the exchange is to increase competition and allow small businesses and individual policyholders to pool their interests to obtain more competitive premiums.
“The exchange is going to be a resource where businesses can go get transparent information and be able to evaluate different programs, and easily enroll employees in the program,” said Betts. “We hope to help alleviate some of the administrative aspects and provide a comprehensive website where visitors can explore the maximum number of options available.”
As vice chairman, Betts will be working with Chairman Gretchen Hammer and a new executive director (to be chosen soon) in carrying out the mission of the Exchange.
Betts has been working with the exchange as chairman of the Executive Search and Personnel Committee, as well as the Board Governance Committee. He was appointed by Governor Hickenlooper in July of this year. Colorado is one of 10 states that have passed enabling legislation to create the exchange. The nine-member Board is independent of any existing state agency or department and will be a key component of national healthcare reform. The exchange is scheduled to open for business in October 2013.
Betts has dedicated his 40-year business career to small business and entrepreneurship. He is CEO of ASAP Accounting & Payroll Services, Inc., a leading Colorado provider of payroll and accounting solutions with offices in Telluride, Durango and Denver.