VEBA rates more competitive
Filed Under: Benefit Plans, BPO, VEBA
WELS Benefit Plans Director Jon Flanagan is urging all active WELS called workers, employees, and organizations not currently taking advantage of VEBA—the synod's group health care plan—to take a close look at its more competitive rate structure.
Thanks to better discounts with provider networks and regional rate adjustments, two-thirds of current participants will experience either no change or a one percent decrease for 2009. The other third will experience anywhere from a 2 to 26 percent decrease.
"We're helping to control the costs for everyone," says Flanagan. "This is an example of the walking together that we've been talking about across synod."
Open enrollment for VEBA runs through Dec. 1. WELS Benefit Plans office this week is mailing letters to all current, eligible employees and organizations, as well as WELS VEBA Medicare members, explaining the new rate structure and enrollment procedures. For a summary of those letters go to: www.welsbpo.net
This will be the last open enrollment for at least the next two years. Workers who do not enroll in WELS VEBA this year will have to wait until at least Jan. 1, 2011, to enroll if they do not have a qualifying event. Beginning in 2010, VEBA rates are expected to rise more in line with medical cost trends.
