67 percent of City employees earn bonus HRA/VEBA contribution
More than 2,500 — or 67 percent — of eligible City employees earned a bonus HRA/VEBA* deposit of $84 (single coverage) or $276 (family coverage) by completing the Medica health assessment on or before the May 31 deadline.
The deposits will be made later this month, and employees who earned the bonus contribution will receive a postcard this month confirming the deposits to their accounts.
It’s not too late to take the assessment
Even if you missed the deadline for the bonus HRA/VEBA contribution, it’s important to complete the health assessment right away. Here’s why:
- Taking the assessment is the first step to be eligible for lower health plan premiums in 2012. If you complete the health assessment, eight health topics and goals, and engage in health coaching (if invited by Medica) on or before Aug. 31, 2011, then your health plan premiums for 2012 will be about $360 (single) or $1,200 (family) lower for the year than if you did not complete the program.
- You’ll learn about your health status and activate the online tools that customize health information to meet your needs.
- You’ll earn a $20 gift card from Medica when you complete the assessment.
How to take the assessment
Completing the health assessment takes only 10 15 minutes. To complete the health assessment, visit mymedica.com and click the Health & Wellness tab. (If you need instructions, the City’s Benefits Website has instructions for logging on.)
If you prefer to take the assessment on paper rather than via computer, call Medica Customer Service at (952) 945-8000 to request a paper copy.
* You have an HRA/VEBA (Health Reimbursement Arrangement/Voluntary Employee Beneficiary Association) account if you are enrolled in the medical plan offered by the City of Minneapolis. The City makes monthly tax-free deposits into your HRA/VEBA account, which you can use to reimburse yourself for out-of-pocket health care expenses not covered by other plans. Any unused funds in your VEBA account are carried over from year-to-year for future health care expenses, including retiree medical insurance.
July 6, 2011
Published Jul 6, 2011