 HRA'S AND SUCCESS SHARING INFO
Each year the Success Sharing Plan year begins October 1 - September 30.
It began October 1, 2009 under this current contract. (TPA/TPAP expired with the 2004 contract).
IF Success Share pays out; ALL Members will have their payout deposited into an HRA Account (Healthcare Reimbursement Account) regardless of which Medical Plan they chose.
If the member already has an existing HRA account; the deposit will go into that account.
If there is no existing HRA account; one will be established on behalf of that member for the deposit.
IF payable; Success Share dollars will be deposited prior to Dec 31.
SHPS (pronounced Ships) is the administrator of the HRA accounts and when/if dollars are deposited; each member will receive an HRA welcome kit from SHPS that will include information on how to access the dollars, websites and how to view their account. (SHPS has been an administrator here in D-4 for years and relatively successful. Member response has been positive.)
Remember that unused HRA dollars roll over year to year and to reimburse monthly premiums they must be paid from paychecks on a POST Tax basis.
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