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HRA VEBA
your piggy bank for health care expenses
HRA VEBA is a tax-free savings account for your family’s medical care expenses and premiums.
Triple tax advantage:
Your utility sends money to your HRA VEBA account - tax free.
YOU invest those funds. Your funds grow tax free.
YOU use your tax free HRA VEBA dollars to reimburse yourself for medical expenses - now, or when you retire.
enrollment
who can enroll?
You - if you are a regular and active employee and you work a minimum of 30 hours per week or 130 hours per month.
DO I HAVE TO ENROLL?
You are automatically enrolled. Get your account number from HR to be able to create your account online, add your dependents, and choose your investments!
using your benefit
when does my benefit kick in?
You can use your HRA VEBA dollars to reimburse yourself for eligible expenses as soon as you have a positive account balance.
Who pays into the HRA VEBA account?
Your utility is funding your HRA VEBA account in various ways:
All benefits eligible employees: You get $50 per month to help cover out-of-pocket medical costs and/or save for medical premiums after retirement.
Union employees: Participate in the wellness program and earn $150 per month.
Non union employees receive $175 per month and are encouraged, but not required, to participate in the wellness program to earn the HRA VEBA wellness contribution.
Enroll in the medical CDHP plan and get $500 - $1,250 per year (depending on how many dependents you enroll).
If you are age 50 or older and terminate employment, any unused personal leave will be cashed out into your HRA VEBA account.
If I don’t use the money, will I lose it?
No. Use your HRA VEBA dollars today to reimburse yourself for out-of-pocket health care expenses, or invest and save your HRA VEBA dollars for medical premiums after retirement. The money is yours, even if you leave the utility.
What can I submit for reimbursement?
You can use your HRA VEBA dollars to pay or reimburse hundreds of eligible medical, dental, or vision expenses and premiums for yourself and your tax dependents. Here are a few examples of eligible expenses.
How do I submit a claim?
You can submit your claim online, use the mobile app HRAgo, or mail your paper claim form. Want your money fast? Make sure you provide proper documentation of your expenses.
Even better, get your benefits card to instantly pay medical care expenses directly from your HRA VEBA account. No monthly card fee, no need for filing claims, and you don’t have to wait to get reimbursed.
HRA VEBA Overview
I have more questions - where do i find answers?
Read the HRA VEBA Basics and visit the HRA VEBA website for frequently asked questions. Check it out. You may find your answers there. If not, contact your friendly HR staff.
