What
benefits can I use the Premium Reserve Account for?
The Premium Reserve Account is used to make Premium payments for either
continuation for Harrison Health and Welfare coverage or yearly Group Term
Life Insurance premium payments.
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How
do I use my Premium Reserve to make partial/COBRA payments for my Harrison
health insurance premiums?
Complete a claim form. Check the box numbered 336 and write the amount
requested where indicated. Mail in the form. Funds will be transferred from
you Flex Premium Reserve to your Harrison Health and Welfare account. There
is no need to mail a check.
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What
is the deadline for submitting Premium payment claims?
The time lines for submission follow the same rules as Harrison Health and
Welfare. Partial payments must be post marked no later than the 10th of the
month. COBRA payments are due the first of each coverage month, with a 30-day
grace period.
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How
do I enroll in the additional Group Term Life Insurance plan?
Within 31 days of reaching the required $400 of contributions to your Flex
account you can enroll on a guarantee issue basis (no health questionnaire).
If applying beyond the 31 days of eligibility, you will need to complete a
health questionnaire (available at the Trust Office), which will be submitted
to Standard Insurance Company for approval.
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How
often are premiums deducted for Group Term Life Insurance and how much does
it cost?
Premiums are deducted in February of each year from your Premium Reserve
Account. The rates are based on your age on January 1 of each year and can be
found on page 11 of your Flex benefit booklet. Premiums for life insurance
are deducted before we process your semi-annual election form with the
exception of February transfers. This way you don't have to worry about
having enough money in your Premium Reserve Account if you transfer funds to
the medical or dependent care account during open election period. You may
refer to your quarterly Flex statement for verification of the yearly
deduction from your Premium Reserve Account.
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How
often should I submit claims for medical reimbursement?
It is recommended that you submit a request for reimbursement at least every
six months. Remember, you must submit the request within 12 months of service
rendered.
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What do I need to do to get
reimbursed for my medical copays and deductibles?
Submit a Flex claim form and provide the Explanation of Benefits you receive
from your medical plan or bills/statements from your provider's office.
Claims are processed faster when submitting the Explanation of Benefits
because the medical plan has already determined your out-of-pocket expenses.
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When
can I expect payment after filing a claim for medical reimbursement?
It takes approximately three weeks to receive your check. This time could be
shorter or longer depending on the time of year. Claims submitted during an
Open Election Period (Jan/Feb & Jul/Aug) may take longer to process than
claims submitted following an Open Election Period.
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What
types of services are reimbursable under the Medical Reimbursement Account?
In general, any medical or dental expense that is not reimbursed or
reimbursable by an employer provided health plan, or any other group or
individual health or accident insurance; and that you haven't claimed the
expense as a deductible on your federal income tax return. See IRS
Publication 502 for a complete listing.
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May I submit claims for
Over-the-Counter (OTC) medications?
Yes, under certain circumstances. Eligible expenses must alleviate or treat
personal injuries or sickness. Expenditures merely benefit the general health
of an individual are not covered.
Who can seek reimbursement?
Section 152 of the code states: The taxpayer, spouse, or dependents are
eligible.
What are the quantity limits?
Only amounts that can be used within the plan year by the taxpayer, spouse,
or dependent are to be included.
Claims must be properly substantiated. What does this
mean?
You must submit a complete and signed Flex Plan claim form with receipts
attached. Additionally, effective for purchases beginning January 1, 2011, the
Flexible Benefits Plan will not reimburse you for most over-the-counter
medications. This change is required by the 2010 healthcare reform
legislation (the Patient Protection and Affordable Care Act). You can
continue to receive reimbursement for insulin and over-the-counter
medications for which you have a prescription. You can also continue to
receive reimbursement for items such as crutches, bandages and diagnostic
devices such as blood sugar test kits.
You may also view the IRS information Revenue Rule
2003-102.
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What is the best thing to submit
to get reimbursed for orthodontic expenses?
Since you must have funds in your medical reimbursement account prior to
receiving services, long-term orthodontic care payments must be reimbursed
monthly, at the time you receive adjustments and/or orthodontic maintenance.
However, if you have your orthodontist apportion your claim, you can receive
full reimbursement of your out-of-pocket expenses when making a large down
payment for these services.
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How
far back can I submit claims for reimbursement?
Within 12 months of the date services were rendered. Remember funds must be
in your medical reimbursement account prior to receiving services. Since you
only transfer money twice yearly it is important to check your quarterly
statement for account activity. The fund transfer amounts are shown on your
statements for periods ending March 31 and September 30 each year.
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What
do I need to do to get reimbursed for my dependent care expenses?
Submit a Flex claim form and provide a receipt which reflects the date of
service, amount paid, name, address, and tax ID of person performing the
service.
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When
can I expect payment after filing a claim for Dependent Care reimbursement?
Processing time is approximately three weeks. This could be shorter or longer
depending on the time of year. Claims submitted during an Open Election
Period (Jan/Feb & Jul/Aug) may take longer to process than claims
submitted following an Open Election Period.
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When
should I submit requests for reimbursement?
You may submit a claim at any time during the year services were rendered.
However, you must submit your claim by January 15th for services rendered the
previous year.
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How
can I access my Wage Replacement Account?
You need to complete a claim form and qualify for one of the four benefits
outlined below:
Supplemental Workers Compensation
You must provide proof of Workers' Compensation.
For each week you receive Workers' Compensation you
will receive $500 from your Wage Replacement Account, until your account
is depleted.
Within four weeks of the week that you meet the
eligibility requirements, you should complete a claim form to receive
benefits. You have 15 days after the end of the Plan Year to
submit a completed claim form. The Plan Year ends on December 31. For
example, if you meet the eligibility requirements for supplemental
compensation benefits in 2004, you must submit the completed claim form by
January 15, 2005.
Supplemental Unemployment Compensation
You must provide proof of unemployment payment (check
stubs or statement from Unemployment office showing weeks paid) and be signed to the out-of-work list at an IBEW local union.
For each week you receive an unemployment check you
will receive $500 from your Wage Replacement account, until your account
is depleted.
Within four weeks of the week that you meet the
eligibility requirements, you should complete a claim form to receive
benefits. You have 15 days after the end of the Plan Year to
submit a completed claim form. The Plan Year ends on December 31. For
example, if you meet the eligibility requirements for supplemental
unemployment benefits in 2004, you must submit the completed claim form
by January 15, 2005. See the Plan document for a complete list of criteria.
Economic Dislocation Benefit
Intend to travel to an IBEW Local Union headquartered
outside the jurisdiction of the Union.
If you are a member of Local 48, receive a travel
letter.
If you are not a member of Local 48, sign the
out-of-work list. The Union will provide verification to the
Administrator.
Fill out a claim form.
Submit your claim within four weeks of receiving
travel letter or signing the books. You have 15 days after the end of
the Plan Year to submit a completed claim form. The Plan Year ends on December 31.
For example, if you meet the eligibility requirements for economic
dislocation benefits in 2004, you must submit the completed claim form
by January 15, 2005.
50% of your account balance will be paid out.
Once your
arrive in the new Local,
Sign the out-of-work list.
Fill out a claim form.
The Local will provide verification that you are
working in that jurisdiction.
The remainder of your wage replacement account will
be paid out.
Submit your claim within four weeks of signing the books.
You have 15 days after the end of the Plan Year to submit a completed claim
form. The Plan Year ends on December 31. For example, if you meet the
eligibility requirements for economic dislocation benefits in 2004, you must
submit the completed claim form by January 15, 2005.
Supplemental Short-term Disability
Participants who receive the Harrison Timeloss benefit will automatically be
issued $500 for each week Harrison issues payment of Timeloss benefits,
provided there are funds available in the Wage Replacement Account. You do
not need to apply for this.
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Do
I need to complete a W-4, and if so, where do I get one?
You will be taxed as married and two unless you complete a Form W-4
indicating otherwise. You can call the Trust
office for the form.
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How
long does it take to get payment when submitting a claim for the Wage
Replacement Account?
For the Workers' Compensation, Supplemental Unemployment, and Dislocation
benefits, your first payment is usually paid within three weeks. Timeloss
payments are paid approximately two weeks after each payment from Harrison
health & welfare.
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How often can I transfer money
from my Premium Reserve Account to the Medical and/or Dependent Care Account?
Open Election Periods are held Jan/Feb & Jul/Aug each year. Statements
and Election forms are mailed out by January 31 and July 31. Please call the Trust
office if you do not receive this information.
During the Open Election period, you can designate money
to be placed monthly in Medical Reimbursement. At the same time, you can
move any existing money in Premium Reserve into Medical Reimbursement and/or Dependent
Care Reimbursement.
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When
is my transfer effective?
Your transfer is effective for services incurred the first of the month
following receipt of your election form in the Trust office. (See also automatic
election).
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How
do I know what amount was transferred?
The amount of fund transfers is shown on your statements for periods ending
March 31 and September 30 each year.
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Why
can't I transfer funds out of the Wage Replacement Account?
This is due to the tax rules associated with the Plan. The IRS requires that
once you have allocated funds into the Wage Replacement account, such funds
must remain in this account until you use them.
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What
is an automatic election and how does it work?
Many participants requested the Trust to allow their funds to transfer to the
Medical Reimbursement account automatically because they didn’t want to complete
an election form every six months. The Trust provides participants with the
option of electing their transfers to be automatically transferred every six
months as noted on the election form. To allow participants time to change an
automatic election, transfers do not become effective until March 1 &
September 1 of each year regardless of the date your election form is
received in the Trust office.
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