How does the plan work?

The Plan will provide a reimbursement toward monthly Basic Medicare Insurance Premium paid by you. The amount of the reimbursement will be equal to the lesser of your monthly Basic Medicare Insurance Premium or the Plan’s maximum reimbursement amount. The Plan’s maximum reimbursement amount will be set annually by the Board of Trustees. The amount will be the same for every Participant, regardless of former job title or compensation class. The Plan’s maximum reimbursement amount is currently equal to $100 per month for the 2016 Plan Year. Reimbursements are paid out of the Plan’s commingled general assets. As a Participant, you do not have an individual account in your name, and you have no vested rights to benefits under the Plan. There are no employee contributions to this Plan. The Plan is funded by contributions as provided for under a Memorandum of Understanding, and investment income when available.

What is the process for reimbursement?

To receive a reimbursement you will need to provide proof of your enrollment in Medicare Part A and B and proof of payment of your Medicare Insurance Premium to the Trust Fund Office as outlined in the full benefits document (link below). The Plan will issue reimbursements on a quarterly basis. Payments from the Trust Fund Office will be made in the month following the end of the quarter for the Medicare Insurance Premiums incurred during the quarter (for example you will receive payment in April for your January, February and March premiums). Payments will be issued by paper checks or by direct deposit. If you choose to be reimbursed by direct deposit, you must fill out the required form providing the necessary information. You may contact the Trust Fund Office for the required form, or download it on this website.

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