Monthly Contributions
When your Retiree Health Plan Application is
approved by the Trust Office, coverage is on a
month-to-month basis as long as you and your dependents
continue to meet the eligibility
requirements and the required monthly contributions
are made to the Trust Office.
|
Retiree Medical Coverage—Service-Based Subsidy
|
Career Hours In
This Plan |
Less than
15,000 |
15,000-
24,999 |
25,000-
24,999 |
35,000-
44,999 |
45,000-
54,999 |
Greater than
54,999 |
| |
0% |
5% |
10% |
15% |
20% |
25% |
Monthly Contribution Rate
There are different monthly contribution rates
depending on (1) which individuals are participating
in the Retiree Health Plan, and (2)
which individuals are eligible for Medicare.
Monthly contribution rates are established
by the Board of Trustees and are increased
as medical costs increase and the needs of
the plan change. You will be notified of the
current monthly contribution rate when you
apply and will be informed, in writing, if this
amount changes.
The Retiree Health Plan monthly contribution
rates are currently subsidized by
contributions paid on behalf of participants
working under collective bargaining agreements.
The subsidy is "service based" which
means the actual cost of retiree medical coverage
is reduced by an amount—0 percent to
25 percent—depending on the total number
of hours of covered service you worked under
the Carpenters Health and Security Plan
of Western Washington, including prorated
contributions transferred to the plan under
"Money Follows the Man."
The "service-based" subsidy levels apply for
retirees and dependents. It also applies to early
retirees, Medicare-eligible retirees, and those
of you covered by SecureHorizons. Effective
January 1, 2008, post-retirement service
counts toward your career hour total prospectively.
Medicare Part D offers a low-income subsidy
for certain individuals. When you are enrolled
in the Medco Medicare Prescription Plan
(please see page 93), the Trust Office will notify
you if you qualify. This may mean a lower
monthly contribution rate.
How to Make Payments
The monthly payment or contribution is
due by the tenth of the month prior to next
month's coverage. For example, the contribution
for February is due by January 10.
Contributions to this plan can be made in
several ways:
- You can authorize automatic monthly
deductions from the Carpenters Retirement
Plan of Western Washington; or
- You can authorize the Trust Office to bill
you on a monthly basis. This is the only
option available to retired lathers.
- If you have a Retiree Health Reimbursement
Account, it can be used to pay a
portion of the monthly contribution, with
the balance of the monthly contribution
paid in one of the two ways indicated
above.
Failure to make the required monthly contribution
will terminate coverage at the end of
the last month in which payment was made.
When coverage is terminated for failure to
pay the monthly contribution, it cannot be
reinstated.
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