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:

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