With this type of plan, the Alternate Payee is usually not awarded a lump sum cash payment from the Plan. Benefits accumulated under this type of plan are often referred to as "accrued benefits". Benefits are generally payable to the participant upon reaching "normal retirement age" for the remainder of the Participant's lifetime. Benefits paid at the time of retirement are typically calculated using a formula based upon years of credited service and compensation information. This type of plan generally provides participants with a monthly retirement benefit upon reaching a specific age and may be adjusted for early retirement. You may also need your receipts for tax purposes.SHEET METAL WORKERS LOCAL 98 PENSION FUND is a DEFINED BENEFIT PLAN. American Benefit Corporation may ask you for verification of a purchase and you’ll need to show the receipt as proof. Saving your receipts is always the way to go. For a nationwide list of IIAS-certified merchants, go to.View the list of IIAS-certified merchants in our area.IIAS is your way to know, right then and there, if your item is approved and processed properly. Your debit card works best when the doctor’s office, pharmacy, drug store, or grocery store has certified Inventory Information Approval System (IIAS) technology. Use IIAS-certified merchants every time.If you are unsure whether the cost of an item or service is reimbursable under your HRA, call American Benefit Corporation at 1-88 and ask for the HRA Department. Use your HRA debit card for eligible purchases only.Click here to view a list of IIAS-certified merchants in our area. Stores and doctors’ offices that meet this standard have certified Inventory Information Approval System (IIAS) technology that tells you, at the time of your purchase, if your items are approved and processed correctly. Your debit card works best at IIAS-certified merchants. Ĭheck your HRA transactions and balance on the American Benefit Corporation website. You can mail you receipts to American Benefit Corporation, HRA Department, 3150 US Route 60, Ona, WV 25545 or fax to 30. The system will be updated so that when the change is processed, the substantiation required will already be recorded and no follow-up will be necessary. In fact, if you want, you can mail or fax your receipts to American Benefit Corporation immediately after using your HRA Debit Card. You are strongly encouraged to save all your receipts as there is a chance that American Benefit Corporation may ask for a copy at some point. The debit card is linked to your HRA account so reimbursement is an almost paperless process. HRA Debit CardĪmerican Benefit Corporation, the HRA administrator, will send you a HRA Debit Card to use for eligible HRA purchases. Contact American Benefit Corporation at 1-88 and ask for the HRA Department with any questions about what qualifies as an eligible expense. Any unused HRA balance is rolled over from year to year, so it is possible to use these accumulated funds to pay for larger expenses you may have in the future. Over time, as your HRA balance grows, you can use the funds in your account to pay for eligible health care expenses not covered by the Plan, such as prescription drug copays or vision care expenses that exceed the benefit coverage level. This contribution is part of the negotiated contribution to the Plan. Your employer contributes toward an HRA on your behalf.
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