Medicare Part B Premium Reimbursement Benefit
What is the Medicare Part B Reimbursement Benefit?
Most older Americans who are eligible for Medicare have enrolled for Part B, the portion of Medicare that covers physician and medical services. Enrollment is voluntary, and the monthly premium is deducted from your Social Security check.
The ArcelorMittal VEBA (formerly the ISG VEBA) intends to reimburse eligible VEBA Beneficiaries and spouses for a portion of their Medicare Part B premiums paid during the 12 month period from July, 2019 through June, 2020.
Simply complete and sign the enclosed Benefit Application Form, and return it, using the enclosed envelope, to the VEBA Administration Office. The envelope must be postmarked no later than Tuesday, September 8, 2020.
Effective June 1, 2020, the VEBA will also accept applications online. Simply go to www.amusaveba.org. All online applications must be received NO later than September 8, 2020.
Do I need to send in a copy of my Medicare Health Identification Card?
In order to pay the benefit to you, the VEBA must have a copy of your Medicare Health Identification Card on file. You do not need to submit a copy of your card if we have it on file, however, a Reimbursement application must be submitted to receive the benefit check.
Your Medicare information is necessary solely to verify your eligibility for the Reimbursement Benefit. The information will not be used for any other purpose, nor will it be released to any other individual or organization.
When can I expect to receive notification regarding the 2020 Part B Reimbursement Check?
The VEBA expects to notify all eligible individuals by December 15, 2020. You must be a qualified VEBA member and must have submitted a 2020 Part B Benefit Application by the deadline to be eligible.
What are the payment options for the 2020 Medicare Part B Reimbursement?
Continuing for 2020 you will have the option for two types of payment. You will select your payment option on the enclosed 2020 Medicare Part B Reimbursement application.
Conventional paper check mailed to all eligible individuals by December 15, 2020.
Pre-paid debit card payable to all eligible retirees. These cards are Mastercard branded debit cards and secure. You are able to transfer the funds easily from your card to your bank account OR use the card to make purchases directly – including paying bills or making online purchases. These cards allow you to access your funds at over 55,000 ATMs and avoid costly check-cashing fees.
The card includes Theft Monitoring Services:
MasterCard ID Theft Alert
Expert Restoration Assistance
Emergency Wallet Replacement Assistance
Immediate access to funds on the card on or before December 15, 2020
What if I enrolled in Retiree Healthcare through the VEBA in 2019 or 2020?
Members who enrolled in retiree healthcare program part of the time from July 1, 2019 through June 30, 2020 may receive a partial benefit which will be calculated by the number of months each member was not enrolled in retiree healthcare program. Each retiree will receive an explanation of their payment in December, 2020.
What happens if I, or my spouse, die prior to receipt of the benefit in December?
First, it is very important that the death of any eligible retiree or spouse be promptly reported to the VEBA Administration Office. It is essential that the VEBA have up-to-date records so that we can keep members informed about the operation of the VEBA and your entitlement to VEBA benefits.
The Plan rules require an eligible individual to (1) pay a Part B premium for one or more months during the twelve-month period beginning July 2019 through June 2020, and (2) be living to sign and submit a completed Benefit Application by September 8, 2020.
If these two conditions are satisfied, and the individual dies prior to December 1, 2020, the VEBA will pay any qualified benefit to the deceased individual’s estate.
Is the benefit taxable?
Based on our understanding of current federal tax laws, the payment is not subject to federal income tax, since it is paid from an IRS-qualified benefit plan. You may need to consult with your tax advisor to determine if the benefit is subject to state or local taxes.
Will I receive this benefit each year?
At this time, we are committed to make payments to qualified Beneficiaries in 2020.
How can I obtain additional information regarding my eligibility for this benefit?
If you have any questions, you should call the VEBA Administration Office at the following toll-free number: 1 (877) 474-8322
The VEBA has been providing benefits to USW Retirees for over 15 years!