CC PACKET 10242006 - Laserfiche WebLink

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IRREVOCABLE ELECTION: The employees' election to participate is considered an "irrevocable" election. For the purpose of the plan, irrevocable means that during an employees' employment they may not change their election (increase/decrease the election) or discontinue their participation in the post retirement health care savings plan. . EMPLOYEES WHO ARE ELIBILE TO WITHDRAW BENEFITS: Employees are eligible to draw from their account for eligible expenses under the following circumstances: • Separation of service from the City. • Retire from active City employment. • If the employee is collecting a disability benefit from PERA. • If the employee is on a medical leave longer than 6 months. • If the employee is on a leave of absence over one year. Reimbursement requests will be administered by Zenith Administrators, ICMA RC's third party claims processor for RHS Plans and must be submitted directly to Zenith. All IRS regulations, Minnesota state statues and ICMA rules of administration apply. ELIGIBLE BENEFITS SUBJECT TO REIMBURSMENTS: • Health insurance premiums • Medicare Part B premiums • Medicare Part D premiums* • Dental costs • Long -Term health care insurance premiums • Prescription drugs • Co -Pay medical an prescription drug expense • Eye care costs • All qualified expenses as defined in IRS Publication #502 *Medicare Part D premiums will become reimbursable upon confirmation from the Center for Medicare & Medicaid Services. Should Part D premiums not be approved for reimbursement, they will become an ineligible benefit and excluded from the plan. DURATION OF THE PLAN: This plan is to be effective on January 1, 2007 and will remain in affect until the plan is revised and amended by the City Council. 48