New Rules for Medical Reimbursement
5/22/2009
New Rules for Medical Reimbursement from Hour Bank
The new plan year has begun for May 1, 2009-April 30, 2010. You can submit for expenses during this year and the previous plan year back to May 1, 2008. You must carry ONE year of your insurance coverage in your hour bank. The excess is available for reimbursement. The exception to this is for Orthodontia and the Prescription deductible under the new Healthy Blue Plan. For this exception you must carry SIX months of your insurance coverage in your hour bank. The excess is available for reimbursement.
The hour bank you are enrolled in, and your hour bank balance as of March 31st of each year, will determine your available hour bank reimbursement dollars for that year. Any additional funds added to your hour bank after May 1st of each year are not available until the following May 1st. If you change hour banks with in that year, more money does not become available based on your new hour bank election.
Remember, the value of ONE year of the hour bank you are enrolled in each May 1st is unavailable for reimbursement. ONLY those dollars over one year's worth of coverage for the hour bank you are enrolled in are eligible. This amount changes each May 1st.
Call Tricia Marciano at x106 in the Benefits Office if you have any questions.
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