Vision Benefits of America to Offer $1 Million in Loans to Independent Optometric Practices in Pennsylvania
Funds will Support Optometric Businesses Impacted by COVID-19
PITTSBURGH, April 13, 2020 (Newswire.com) - Vision Benefits of America, Inc. (VBA), a commercial group benefits organization, today announced a new initiative for Pennsylvania optometric practices. The Pennsylvania Optometric Emergency Assistance Program is designed to assist optometry businesses facing unprecedented challenges due to the outbreak of the novel coronavirus (COVID-19).
“VBA is proud to support Pennsylvania optometrists through its interest-free loan program,” said Jeff Hollowood, President and CEO of VBA. “While only a small-sized, regional non-profit carrier, VBA is privileged to offer funds totaling at least $1 million for continuation of business operations to optometric practices in our network.”
The Pennsylvania Optometric Emergency Assistance Program will be open to any independent optometry practice located in the Commonwealth with payments from VBA totaling $15,000 or more for the year 2019. Interest-free loans will be available in the amounts of $10,000, $15,000 or $25,000 and can be repaid over a 24-month period beginning in January of 2021.
“It is our hope the proceeds of this program will assist optometric practices in restoring operations and continuing the great work that they do in our communities,” said Hollowood. “During these challenging times, it is important that we support local businesses and explore ways to be more prepared for future challenges.”
As a nonprofit, VBA was founded by independent optometrists in the state of Pennsylvania to offer low-cost eyecare to Pennsylvania residents. Today, VBA’s mission is to improve the human experience by utilizing innovative models of service, delivery and advocacy to reduce barriers to highquality eyecare. With an eye on its roots, VBA developed the Pennsylvania Optometric Emergency Assistance Program in order to help independent optometrists in Pennsylvania continue to offer high-quality eyecare to residents of the Commonwealth.
VBA is reaching out to each eligible practice this week to provide more information regarding the program and the next steps toward obtaining an interest-free loan.
Founded in 1965 as one of the first preferred provider organizations (PPO) in the nation, VBA has proudly offered group vision benefits to corporations, municipalities, schools, health and welfare funds, hospitals and health maintenance organizations for over 50 years. Seeking to capitalize on its experience and expand its offerings beyond vision, VBA also provides cost-effective dental solutions across the nation through plans administered and underwritten by the TruAssure Insurance Company. Some plans may not be available in all states. For information, please visit www.vbaplans.com.
Contact: Emily Shrader
Telephone: 412-881-4900 x 232