VEBA Health Reimbursement Account (HRA) Plan
What is the HRA VEBA Plan?
The VEBA plan is a tax-free health reimbursement arrangement (HRA) that enables an employer to make tax-free contributions into a special trust account on an employee's behalf.
These tax-free funds can then be used to pay or reimburse eligible out-of-pocket health care costs and premiums for the employee, spouse, and qualified dependents. All regular employees have the opportunity of receiving employer contributions that can be used for payment of medical expenses including insurance premiums after retirement.
There are three ways to earn contributions:
If an employee uses 30 hours or less of sick leave from October 1 to September 30th during the fiscal year, the City will contribute $200 to the employee's VEBA account.
For employees who have reached the maximum 960 hours of sick leave accrual (2880 hours for Firefighters) and maintain that maximum, the City will contribute 25% of the amount of unused annual accrual into their VEBA account.
Upon qualified retirement the City will contribute 35% of their unused sick leave balance to the employee's VEBA account. Those employees with at least 5 years of service but have not met the PERSI retirement eligibility - will receive 25% of unused sick leave into a VEBA account.
(effective March 2015) Employer ID - YA 054
New and Enhanced Services, Features, and Options
OR by paper form;
Submit claims online, including the ability to submit additional documentation (when required), for easier and faster reimbursement;
Elect a debit card to simplify how you pay for qualified items and services (available summer of 2015);
Use a mobile app to keep track of your accounts, take pictures of receipts, and submit claims on the go;
Enjoy redesigned online participant account access with information you want most just one click from the homepage; and
Speak with a highly-trained customer care representatives who can quickly resolve most issues, and even make claims processing corrections, right over the telephone.
Forms and enhanced services can be accessed through the HRA VEBA portal at
www.hraveba.org. 1-888-659-8828 or