Annual Report for 2014-FINAL (2) - page 3

3
Medical Coverage
The Trust’s Plan of Benefits provides medical coverage for each eligible retiree and spouse.
These benefits are paid under either:
1. An
Indemnity
program;
Retirees are automatically enrolled at no charge. However, spouses must enroll and
pay a monthly premium of $35.
- OR -
2. An optional
Preferred Provider Organization
(PPO) program (available only to retirees and/or
eligible spouses who are not yet eligible for Medicare).
There is a $45 monthly premium for each participant (retirees or spouses).
Prescription Drug Program
The
Prescription Drug Program
available through the Trust does not have a “donut hole” like
Medicare Part D. For all participants whose former employer contributes at the highest rate, mail-
order maintenance medications and short-term retail pharmacy prescriptions are covered.
Life Insurance
The Trust provides $2,000 of
life insurance
coverage for eligible retirees only. There is no
coverage available for spouses.
Benefits In Brief
Notification
If the Trustees determine that any of the Trust’s benefits are no
longer satisfactory for any reason, they reserve the right, as
they do with the Trust’s Plan and other programs, to modify,
change or discontinue any of them at any time and in any
manner. The Trustees strive to provide ample notice before
carrying out any such action.
Lifetime Maximums
In 2014, and for the fifth consecutive year,
there were no changes to
deductibles, lifetime maximums,
or out-of-pocket costs for participants.
Note: For further details regarding
deductibles and
out-of-pocket costs,
please refer to your Plan of
Benefits booklet, or visit our
website:
.
Interesting Facts
During 2014, the Trust
paid over $29 million in
medical benefits on
behalf of its almost
19,000 participants.
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