NBA Players Association announces it will fund health insurance for retired players

On Wednesday, the NBA Player Association (NBPA) announced a major policy update for members past and present: funded health insurance for all retired NBA players with at least three years of service in the league.

NBPA president and Los Angeles Clippers point guard Chris Paul called the move "unprecedented":

The decision to institute this new policy was the result of a unanimous vote during the NBPA’s summer meeting at the end of June. The specifics of the plan and who is eligible are as follows:

Since the average lifespan of an NBA player’s career is just north of four years, a very significant portion of current and former NBA players will fall within the policy’s prerequisites. While not every single player in the union will reap the rewards of today’s announcement, this new policy serves as the gold standard for all other professional sports players associations to model.

Only time will tell whether the NFL, MLB and NHL player associations follow suit.