As outlined within the Funds announcement letter of September 4th, effective, January 1, 2021, the Lake County Indiana NECA–I.B.E.W. Health and Benefit Plan is converting its medical and prescription drug plans for Medicare-eligible participants into the following:
Newsletter
VERY IMPORTANT INSURANCE NOTICE: MAJOR CHANGES BEGINNING JULY 1, 2020 & AUGUST 1, 2020
The Board of Trustees of the Lake County Indiana NECA – I.B.E.W. Health and Benefit Plan recently performed and completed a proposal process to select a new third-party administrator to replace both Benefit Plan Administrators (BPA) and Paylocity. The Board considered proposals from a number of potential partners.
PAYLOCITY SYSTEM MAINTENANCE
From March 16th, 2020 through March 20th, 2020 Paylocity will be performing necessary upgrades to improve their systems. During this time, participants debit cards as well as their ability to electronically submit claims will be temporarily suspended.
CONTACT INFORMATION REMINDER
Whenever you update your contact information within either the Paylocity, SavRx, Teledoc, Grand Rounds or Vanguard, please make certain that you provide the Fund Office with those updates as well.
S.U.B. FUND IMPROVEMENTS
Effective March 1, 2020, the following improvements have been made to the S.U.B. Fund.
S.U.B. FUND CHANGE
Travelers who are referred out on or after March 2, 2020 and subsequently meet the $1,200 eligibility requirements of the Plan will be permitted to receive only the same S.U.B. Fund benefits that are offered to Local 697 members and participants.
MONEY PURCHASE PLAN AND TRUST IMPROVEMENTS
The following improvements were made to the Money Purchase Plan and Trust.
MONEY PURCHASE PLAN AND TRUST REMINDER
Many participants erroneously think that once they retire or stop working for a Local 697 signatory employer, they must withdraw their Money Purchase Plan and Trust account. Since 2019, this has not been true. Participants can keep their Money Purchase Plan and Trust accounts within the group Plan for as long as they like, including after the age that the law requires minimum distributions to be made.
HAVE YOU MET BUDDY?
If not, go to the Funds website at www.ibew697benefits.com and find out how Grand Rounds helped Buddy get back to loving the life he lives, and living the life he loves.
COVID-19 AKA, THE CORONAVIR US
Coronavirus (COVID -19) is a respiratory illness caused by a virus that was first identified in China. It is highly contagious and includes symptoms like fever, cough and shortness of breath. The Centers of Disease Control reports that the risk of getting the coronavirus within the United States is low.