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VEBA News & Highlights. Today’s Topics. What’s new? Administrative reminders VSG client consultant territories What are other CTC groups doing? HRAs and HSAs Systematic premium reimbursements Health care reform. Website Redesign. veba.org. Updated Forms. Updated look and feel
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Today’s Topics • What’s new? • Administrative reminders • VSG client consultant territories • What are other CTC groups doing? • HRAs and HSAs • Systematic premium reimbursements • Health care reform
Website Redesign veba.org
Updated Forms • Updated look and feel • More user-friendly • Reorganized content • New Investment Allocation Change Form • Updated Enrollment Kit coming soon
Administrative Reminders • Participant effective dates • Specify on Enrollment Forms • Default effective date is that date upon which both an Enrollment Form and contribution have been received • Contribution remittance • Send contribution data reports timely • The lockbox is for paper checks only • Send contribution data reports to Meritain Health • Contribution data reports to the lockbox causes delays and added cost to the Trust
What are other CTC groups doing? • Early retirement incentives (ERIs) • Mandatory employee contributions • Sick leave cash out at retirement • Vacation, personal, other leave cash outs
Coordination With HSAs Can you have an HSA and an HRA? • Contributions can be made to both, but • To become eligible to make (or receive) contributions to an HSA, you must elect limited purpose VEBA Plan coverage • Only certain dental, vision, and orthodontia expenses may be reimbursed while coverage is limited • Can file claims to either; no ordering rules • YES!
HSA Eligibility • An individual can make (or receive) contributions to an HSA if they • Have coverage under an HSA-qualified HDHP • Have no other first-dollar, non-HDHP medical coverage (through self or spouse) • Are not enrolled in Medicare • Cannot be claimed as a dependent on someone else’s tax return
HSA Eligibility First-dollar coverage HSA-qualified HDHP a health plan that meets the statutory requirements for annual deductibles and out-of-pocket expenses • provides benefits before an employee meets their deductible • (e.g. coverage under a spouse’s health plan, general plan, general purpose FSA or HRA coverage, etc.) • Preventive care is OK NOTE: HSA contributions must stop once an employee is enrolled in Medicare; the employee will keep the money in their HSA for future use.
Systematic Premium Reimbursement PEBB retiree medical • Systematic Premium Reimbursement Form available online at veba.org • Provides reimbursement to participants for qualified premiums only • No direct payments to insurance companies or providers
Healthcare Reform W-2 Reporting for HRAs not required • Do not report contributions or value of coverage on Form W-2 • Value of health reimbursement arrangement (HRA) coverage exempt from Form W-2 reporting until further notice • IRS Notices 2011-28 and 2012-9 PCOR Fee • New fee under healthcare reform • $1 per participant per year for current plan year; will go to $2 next year • Funds go to Patient-Centered Outcomes Research Institute
Pop Quiz • Can an employee have an HSA and then have their sick leave cash out go to VEBA when they retire? 1 • Can VEBA pay HCA directly for PEBB retiree medical premiums? 2 • Is W-2 reporting required for contributions to VEBA? 3