Due to the diligence of the trustees of both the Active and Retiree Welfare Funds, both funds continue to do well financially, which has allowed trustees to make improvements for all members and retirees.
The Active Welfare Fund will be providing an out-of-pocket reimbursement after each fiscal year. Providers for prescription, dental, and optical will submit a file to the Union’s third party Administrator A.S.O. and the trustees will evaluate the total out-of-pocket amount to be reimbursed per member annually.
The Retiree Welfare Fund will be increasing the prescription drug cap for each Retiree group Non-Medicare Member and Dependent from $3,000 combined to $5,000. The prescription drug cap for Medicare Retirees will increase from $3,500 to $5,000, and for their dependents, from $500 to $1,500. The effective dates for all changes are to be determined once we receive clarification from attorneys for the Funds regarding compliance with the Affordable Care Act law notification guidelines.