For Your Benefit - Fall 2007
| Submitted by superuser on Mon, 10/08/2007 - 11:09am.
Sec-Treas Reports
As the summer season sets and gives way for fall, there are several items that I would like to make you aware of. In most of our companies open enrolment for benefits will commence very soon. This is traditionally the time of year that you can change your benefit plan, add a qualified benefit or waive coverage. This happens only once a year and it is imperative that if you want to make any changes or waive your coverage that you act promptly. If you don’t know when your Company has scheduled their open enrollment call the HR or benefits department to find out. The other important item is your Flexible Spending Account (FSA). If you have a FSA then you should inquire about the balance as soon as possible. Remember this is a use it or loose it plan per the Federal Government. You need to spend it before December 31, 2007 at midnight or any unused money will be forfeited. If you work for a company that negotiated an FSA with Local 369 then any member who hasn’t enrolled yet should really think of enrolling. This benefit, which is approved by the Internal Revenue Service, is called Section 125 flex spending account or FSA. It may save you as much as 30% on group insurance premiums, out-of-pocket healthcare expenses, and dependent care costs. Covered expenses include immunizations, insulin and syringes, laser eye surgery, learning assistance for the disabled, physical therapy, psychiatric care, speech therapy, weight-loss counseling, hearing aids, acupuncture, alcohol and substance dependency treatment, birth control pills, chiropractic services, deductibles and co-pays, dentures, fertility drugs and treatments, contacts and glasses You can also be reimbursed for many over-the-counter medical products that you purchase, including, but not limited to: allergy medicine antacids, anti-diarrhea medicine, bandages, cold, flu and cough medicine and cold/hot packs for injuries. Finally, I would like to take this opportunity to thank Thorbahn and Associates, our benefits consultant, on their help in the latest round of contract negotiation at National Grid. With their help we were able to lower the cost of the health care for the bargaining unit members by 28.4% in the Blue Cross Blue Shield PPO. Thorbahn and Associates has had a long history providing Local 369 with tremendous help during contract negotiations, benefit disputes as well as being a major sponsor to our scholarship golf tournament. When Local 369 heads to the bargaining tables with Thorbahn and Associates as our benefit specialist you can be assured that you are in good hands. »
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