Benefits from the Trust come in the form of reimbursement for certain medical costs incurred after you retire, which the Plan defines as “Covered Expenses.”
Part B: Benefits and Participation at a Glance
- What types of benefits are available from the Trust?
- For what type of medical expenses does the Trust provide reimbursement benefits?
- Who can participate in the Trust?
The Trust provides reimbursement benefits toward the cost of post-retirement “Covered Expenses” paid by participants, on or after the date the participant becomes an Eligible Retiree under the Plan. “Covered Expenses” include the following:
- Premium or contribution payments for coverage under health, dental, or vision insurance plans.
- Medical expenses excludable from gross income under Internal Revenue Code Section 213(d), i.e., costs for diagnosis, cure, mitigation, treatment, or prevention of disease or injury, including insulin, but not including other non-prescribed drugs.
- Premium payment for qualified long-term care insurance.
You may contact the Trust Office, or visit www.irs.gov to see IRS Publication 502 for more details on Covered Expenses. Generally, any medical expense that would be deductible under Internal Revenue Code Sec. 213(d) is allowed as a Covered Expense.
An individual can participate in the Trust if he/she is a member of a bargaining unit that is a member Association of PORAC, which has bargained to participate in the Trust; and the individual is employed in a classification covered by a MOU, which provides for participation in the Trust.
If you are represented by a member Association of PORAC interested in joining the Trust, please contact Ms. Suzan Kolb of the Trust Office at (877) 808-5994.