HPAE Retiree Medical Trust – Basic Information
In early 2007, the Medical Expense Reimbursement Program of the HPAE Retiree Medical Trust was officially established. The Trust is a multi-employer, non-profit trust that receives tax advantages under the IRS tax code, 501c(9) and, as required by law, is governed by an equal number of Union and employer Trustees. The Trustees have hired professionals to administer the reimbursement program, including a third party administrator (TPA), an attorney, an actuary, and a financial investor.
The Trust is what is known as a “VEBA” or Voluntary Employees Beneficiary Association. Because of its tax status, a VEBA allows contributions for post-retirement medical expenses to be contributed with pre-tax dollars, to accrue interest without taxation, and finally, to be received by retirees on a tax-free basis.
HPAE Medical Expense Reimbursement Plan
Every HPAE member who is a participant in the plan has received a Summary Plan Description (SPD) of the Medical Expense Reimbursement Plan and the Medical Reimbursement Plan itself. For basic information on the plan and the Trust, click on the link below:
Retiree Medical Trust – Frequently Asked Questions (June 2016)
Participating HPAE Locals:
Currently, HPAE members in the following locals, as well as HPAE staff, participate in the plan:
- Local 5004/Englewood Hospital and Medical Center
- Local 5030/Palisades Medical Center
- Local 5058/Jersey Shore Medical Center
- Local 5091/Bergen-New Bridge Medical Center
- Local 5105/Virtua
- Local 5107 Phoenix Center
- Local 5112/Cornerstone Behavioral Health Hospital
- Local 5118/Cooper University Hospital
- Local 5131/Inspira Health @ Vineland/Elmer/Bridgeton
- Local 5621/Inspira @ Mullica Hill and Woodbury
- Local 5138/Southern Ocean Medical Center
- Local 5147/Hudson Regional Hospital
- Local 5186/Christ Hospital