Posts tagged "Welfare"

Life Insurance and Accidental Death & Dismemberment Benefit Carrier Change

Please be advised that the District Council Ironworkers Welfare Fund of Northern NJ has made a change to its Life Insurance and Accidental Death & Dismemberment (AD&D) Benefit Carrier for Active members. This change does not affect the amount of your life insurance coverage. Effective August 1, 2012 the carrier will be AIG Benefit Solutions.

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Welfare Fund Early Retiree only benefit plan discontinued effective December 31, 2012

After careful consideration at the June 19, 2012 Board of Trustees' meeting, it has been determined to discontinue the Early Retiree only benefit plan effective December 31, 2012.

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Mental Health Parity and Addiction Equity Act (MHPAEA)

The Mental Health Parity and Addiction Equity Act (MHPAEA) of 2008 is federal legislation that was signed into law October of 2008. The requirements of MHPAEA are effective July 1, 2011 for the Welfare Fund.

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Welfare Fund Patient Protection and Affordable Care Act benefit changes effective July 1, 2011

The Welfare Fund is providing an announcement letter to participants to provide them with notices required under the Patient Protection and Affordable Care Act, and to inform them of benefit changes effective July 1, 2011.

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Welfare Fund Retiree Plan Changes effective June 1, 2011

The Trustees have approved to continue coverage for the spouses and/or dependent children of Medicare Retirees after 3/1/2011. To offset the costs associated with this coverage, the following changes were approved by the Trustees effective 6/1/2011:

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Welfare Fund Plan Benefit Changes effective 4/1/2011 and 6/1/2011

At the March 30th Board of Trustees' Meeting, changes were approved by the Trustees for the Welfare Fund.

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Welfare Fund Plan Benefit Changes effective 4/1/2011 and 6/1/2011

At the March 30th Board of Trustees' Meeting, changes were approved by the Trustees for the Welfare Fund.

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Welfare Fund Plan Changes Effective January 1, 2011 and February 1, 2011

The following changes in the contribution rates and Plan rules were adopted by the Board of Trustees at a Special Trustees Meeting held on October 28, 2010: Reallocation of contribution rates. As of January 1, 2011, all optical and dental benefits will be eliminated and the death benefit will be reduced from $10,000 to $7,500. Estimated projected savings of approximately $800,000. As of February 1, 2011, all Medicare eligible retirees covered in the Welfare Fund will be moved to a Medicare Part D Plan with an independent Pharmacy Benefit Manager.

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Welfare Fund Changes for Retiree Plan Effective January 1, 2011 and March 1, 2011

The Trustees remain committed to improving and preserving the long-term financial stability of the Welfare Fund so we can continue to offer valuable medical and prescription drug benefits to active members.

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Welfare Fund Plan change effective December 15, 2010

The 120 month Welfare Fund retiree benefits for eligible dependents has been changed.

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