The 2021 premium rates for the WELS VEBA Group Health Care Plan will not change compared to the current 2020 rates. In other words, the 2020 rates for all WELS VEBA health plan options will remain in effect for 2021. The WELS VEBA health plan has experienced better-than-expected claims costs and investment returns over the past 18 months, which has allowed the WELS VEBA Commission to not increase rates for 2021 while maintaining adequate reserves. No significant changes to cost-sharing amounts (e.g., deductibles) or covered services are expected for the 2021 plan year.
Over the three-year period from 2019-21, WELS VEBA rates will have increased by only 4%, which does not include the approximately $4.2 million in savings passed on to participating sponsoring organizations during the August 2020 WELS VEBA premium holiday. The WELS VEBA Commission is pleased to provide this rate stability to help support WELS ministry efforts.
In addition, the WELS VEBA Commission has approved a limited open enrollment that will run from November 2, 2020 through November 30, 2020 for coverage effective January 1, 2021. Eligible workers serving at sponsoring organizations with at least one active worker enrolled in the WELS VEBA health plan will have the opportunity to enroll for new coverage or make changes to their existing WELS VEBA coverage. Open enrollment materials will be mailed to eligible workers in late October.