Retiree VEBA Benefit Trust
It is our priviledge to serve Voluntary Employees Beneficiary Association Trust Plans
Our retiree welfare plan administration practice has grown considerably in the recent decade. We consider it a privilege to serve Voluntary Employees’ Beneficiary Association Plans (VEBA). We currently provide administration for over 25 retiree VEBA plans. Our retiree VEBA benefit Trusts include qualified employee benefit plans sponsored by the unions and individual companies, multi-employer VEBA trusts and retiree plans sponsored by single employers. The VEBAs that we serve range in size from less than 50 participants to over 32,000.
We offer the VEBA plans a broad range of services including full administrative services and more focused elements of services such as processing Medicare Supplement claims, eligibility administration, participant service and retiree billing. Please see below detail on our VEBA administration capabilities.
Fund Office Administration
We serve as the administrative office, responsible for coordinating all Trust business. Tasks include paying vendors, banking activities, Trustee service, participant service, receive appeals, host Trust Meetings, serve professionals (auditor, actuary, legal) and maintain a compliance calendar.
Medicare Supplement Claims
We process Medicare Supplement Claims. Medicare claims crossover directly from Medicare, alleviating any potential burden on retirees to submit their EOBs to a supplemental carrier.
Retiree Drug Subsidy Administration
We administer the RDS for many of our clients. We have existing vendor relationships with Caremark, Express Scripts and Medco. Our client trusts have received millions in government reimbursement. We are responsible for every aspect including initial & on-going annual RDS application processing, eligibility & response file processing, RDS data submission transfers and subsidy payment processing. We are well able to navigate the complexities of working with CMS to ensure eligibility is accurate and manage the PBMs to ensure claims data is submitted and reconciled in a timely fashion to ensure the maximum reimbursement.
Eligibility
We are responsible for maintaining eligibility for our clients. We provide weekly eligibility updates to carriers ensuring that all participants have the appropriate coverage. We have experience with fully insured Medicare Supplement Plans, Medicare PPOs, Medicare Advantage Plans and non-Medicare retiree plans.
Retiree Billing
For most of our VEBA clients we provide retiree billing. We receive pension deductions, generate account invoices for self pay retirees and provide an option for automatic withdrawal (ACH) for payment. We reconcile all payments received and provide for collections in accordance with plan documents.
