VEBA - Supplemental Fringe Benefit Fund
The Supplemental Fringe Benefit Fund, or VEBA, is an employer-funded benefit that provides for reimbursement of medical Plan out-of-pocket expenses like your coinsurance, Emergency Room co-payment or prescription drug co-payments. Reimbursement can also be made for certain expenses not covered by the Plan, like mileage to and from a doctor's office for treatment*. Your VEBA/SFBF can be used to make your Self-Payments to continue eligibility in the Plan.
Reimbursement can be obtained two ways. You may submit a VEBA claim form with copies of paid receipts for eligible expenses as you incur and pay them. In most circumstances, you may apply to have medical Plan expenses submitted automatically to the VEBA. Once enrolled under the automatic roll-over option, you must then only submit prescription drug co-payments and a limited number of expenses that cannot be filed through the medical Plan. You must submit this form to elect automatic reimbursement.
Benefit payments are issued twice a month by direct deposit only. The first run of the month will only affect those on the automatic who have outstanding claims and who have a contribution balance. If you are submitting claims the cut off for receiving out-of-pocket expense is the 15th of the month and you will see those requests on the second run (25th). We will wire transfer on the 10th and the 25th of the month. If either date falls on a weekend, we usually process on the Friday prior. Please give it a day or two after these dates for your deposit to show up in your requested bank account.
Quarterly statements are provided to participants to advise them of their Plan balance. Account balances may be obtained on-line here on the electrical funds website. You must have a username and password to have access to this information. You can also call at 419-666-4450 to request a copy be mailed to you.
You may download the VEBA claim form in PDF format. Note, you will need Adobe Acrobat Reader, available free from Adobe's web site, to view and print this file.
Click here to download claim form: SFBF VEBA claim form.
* To obtain reimbursement for mileage, attach the following information to your VEBA claim form:
- Patient Name
- Round-trip mileage
- Name of the doctor, pharmacy or medical facility
- A copy of the bill, invoice or EOB
The above is just a brief description of the SFBF/VEBA Fund. If you have any questions, please call the Funds Office at 419.666.4450
Frequently Asked Questions - SFBF/VEBA
- How do I know what claims have been reimbursed on the monthly deposit?
- This information is on www.electricalfunds.org website. Click here for instructions on how to navigate to SFBF/VEBA information. You must have a username and password to access your individual information.
- Can I take my balance and receive a reimbursement even though I do not have any out-of-pocket expenses, just take taxes out of it?
- No, this is a tax free fund and follows rules established by the IRS to keep it that way. You must supply some sort of out-of-pocket expense in order to receive any money from this fund.
- How do I get a reimbursement for any out-of-pocket medical expenses?
- The Fund keeps track of all medical and dental out of pocket expenses for you. You either can be put on the automatic and receive any out-of-pocket expenses for the previous month reimbursed to you or just turn in the yellow form stating you would like to be reimbursed for any out-of-pocket on file.
- How do I get reimbursed for vision and prescription out of pocket expenses?
- Submit a receipt that shows the date services were rendered, and how much you paid out of pocket.
- What is my VEBA balance?
- You can call the Fundís office or go to www.electricalfunds.org website. You must have a username and password to access your individual information.
- What is a Pay Balance as shown on my statement?
- This is your accumulated out-of-pocket total of any Medical or Dental claims that have come through this office and have not been paid out yet.
- What other things can we get reimbursed for besides medical and dental?
- Prescriptions, Vision, mileage to and from the doctor's office or pharmacy and etc. If you have a question if it is eligible, just call into the Benefits Office.
- What is the difference between Type I and Type II benefit?
- Type II is three new benefits you can now get reimbursed for. Dependent Care, educational assistance and supplemental life insurance are Type II benefits.
- How do I get supplemental life insurance?
- The Trustees just approved a proposal to provide supplemental life insurance. Please contact the Benefits office if you would like to increase your supplemental amount.
- When will checks go out?
- We are no longer issuing paper checks. You must submit a direct deposit enrollment form in order to receive a reimbursement out of VEBA/SFBF.
- When will I see a deposit in my checking/savings account?
- We do reimbursement deposits twice a month starting February 2013. Automatic reimbursements will be processed and deposited no later than the 10th of the month. All other requests for reimbursement will stay the same. Cut-off for receiving receipts is the 15th of every month and wires will be transferred no later than the 25th of the month
- Can my VEBA be attached by creditors?