2024 WELS Benefit Plans Summary

The following provides a summary of the WELS Benefit Plans for 2024 and information to help newly hired workers begin participating in the plans.

WELS VEBA

To participate in WELS VEBA, a new worker must enroll within 60 days of his/her employment start date.  To enroll, login to the WELS Benefits Service Center website at wels.bswift.com or call 1-800-487-8322 (option 1).

WELS Shepherd Plan

Participation in the WELS Shepherd Plan is automatic for called workers upon acceptance of a formal call issued by WELS.  To enroll, contact the calling body to which you have been assigned for enrollment instructions, and then complete the enrollment at retirementplanconsultants.info/login.

 

2024 WELS VEBA Health Plan Rates

The 2024 premium rates for the WELS VEBA Group Health Care Plan are now available. To find the 2024 premium rates for the plan options available in your area, visit the 2024 health rates page.

The 2024 rates will increase by 11% over the current 2023 rates. The main drivers of the increase are (1) cost inflation for health care services and prescription drugs, and (2) an increased number and severity of high-cost members.

Although the 2024 increase is significant, the increase is necessary for the plan to maintain adequate projected long-term reserves and is in line with average expected increases in health insurance premiums nationwide. It is also important to remember that over the previous five years the WELS VEBA rates increased by an average of less than 3% per year, and $4.2 million in savings was passed on to participating sponsoring organizations during the August 2020 premium holiday.

Due primarily to the high inflationary environment, the VEBA Commission is strongly considering significant plan design changes to be effective January 1, 2025. These changes may include discontinuing the $500/individual and $1,000/family deductibles currently available under Plan 1, and updating the differences in premium rates by geographical area (i.e., rate regions) using improved claims data.

The Plan 3 deductible amounts will increase to $3,200/individual and $6,400/family to remain compliant for use with Health Savings Accounts in 2024. Because of these deductible increases, the Plan 3 premium rates will increase by only 10.1% for 2024. A summary of the most significant changes to covered services effective January 1, 2024 is provided below.

  • Disposable continuous glucose monitors will be covered under the pharmacy benefit subject to utilization management.
  • COVID-19 testing in a clinical setting, either in-network or out-of-network, will be covered subject to deductible and coinsurance.
  • Over-the-counter COVID-19 test kits will be excluded from coverage.
  • The COVID-19 vaccine administered out-of-network will be covered subject to deductible and coinsurance.
    • Note: the COVID-19 vaccine administered in-network will continue to be covered at 100%.

The WELS VEBA Commission approved a limited open enrollment period this November for new coverage effective January 1, 2024. Eligible workers serving at sponsoring organizations that participate in WELS VEBA will have the opportunity to enroll for new coverage or make changes to their existing WELS VEBA coverage. Limited open enrollment materials will be mailed to eligible workers and sponsoring organizations by the end of October.

2022 WELS Retirement Program Updates

WELS has produced the following videos, one for workers and one for sponsoring organizations.  These videos provide an update on the status of the WELS Pension Plan freeze and transition to a defined contribution plan for worker retirement benefits.

Spring 2022 worker video.

Spring 2022 sponsoring organization video.

In addition, the Hahn Financial Group has prepared this video walkthrough to help workers designate beneficiaries and make investment elections for the defined contributions in their Shepherd Plan accounts.

WELS intends to deposit the January 2022 quarter’s defined contributions into workers’ Shepherd Plan accounts by the end of April. The following is a summary of the main actions for workers and organizations to take by the end of March to prepare for the first defined contribution deposit:

  1. Organizations should ensure that each called worker has a participant account set up on the Shepherd Plan website, or provide called workers with your organization’s five-digit password so that workers can set up their own accounts.
  2. Workers should log in to their WELS Shepherd Plan participant accounts to verify demographic information, make investment elections for their new defined contributions, and designate beneficiaries.
  3. Workers should log in to the WELS Pension Plan benefit estimate website to obtain an estimate of their Pension benefit amounts, as well as to review their contact information and service history on file with WELS.

The Shepherd Plan website is available here: https://www.yourplanaccess.net/retirementplanconsultants/.

The Pension Plan benefit estimate website is available here: wels.net/pensionbenefitestimate.  Workers can log in with their unique passcode printed on the letter dated March 1, 2022 and mailed to workers.

The following videos, produced in October 2021, provide additional information about the transition and the new defined contribution plan:

The first video summarizes the upcoming WELS Retirement Program changes.

The second video provides called workers with an introduction to the WELS Shepherd Plan and how the new defined contributions can be used.

The WELS Benefit Plans Office and the Hahn Financial Group are happy to help with questions that you may have regarding the transition and the first defined contribution deposit. For questions regarding the Pension Plan and the new defined contributions through the Shepherd Plan, including contributions and billing, please contact the Benefit Plans Office by calling 414-256-3299 or e-mailing [email protected]. For questions regarding the Shepherd Plan and how workers can log in to their accounts and request a financial review, please contact the Hahn Financial Group by calling 1-800-516-4246 or e-mailing [email protected].

Investment Advisory Services and Insurance Products offered through Hahn Financial Group, Inc., an SEC Registered Investment Advisor.  Neither Hahn Financial Group, Inc., nor its representatives provide tax or legal advice. For answers to your specific questions, please consult a qualified attorney or tax advisor.

COVID-19 Home Tests

The WELS VEBA health plan covers at-home diagnostic COVID-19 tests obtained on or after January 15, 2022 at no cost to the member (up to eight per covered family member per 30-day period).  Members can obtain at-home COVID-19 tests in the following ways:

  • At an Express Scripts network retail pharmacy.  Find a network pharmacy by visiting express-scripts.com and clicking “Find a Pharmacy.”  Check out at the pharmacy counter and present your WELS VEBA ID card to obtain the covered tests at no cost.  If the pharmacy charges you for the tests, submit a claim to Express Scripts for reimbursement (up to $12 per test) using this form.
  • Order online through the Express Scripts pharmacy by logging in to your member account at express-scripts.com.  Covered test kits will be mailed to you at no cost.
  • At a non-network retail pharmacy.  Submit a claim to Express Scripts for reimbursement (up to $12 per test) using this form.
  • Order online through the federal government’s website at: covidtests.gov.  Tests obtained through the federal government website are free for both members and the WELS VEBA plan, and do not count toward the WELS VEBA plan’s limit to cover eight tests per covered family member per 30-day period.

The Express Scripts flyer linked below provides additional information regarding the process to obtain covered COVID-19 at-home test kits.

No Surprises Act

The No Surprises Act was enacted to protect health plan members from surprise billing after receiving certain services from out-of-network providers.

The WELS VEBA Group Health Care Plan (the “Plan”) provides health benefits to eligible WELS/ELS workers and their eligible dependents.  The Plan is required by law to notify members of their protections against surprise billing under federal law.

You may view the WELS VEBA No Surprises Act notice by clicking this link.

Helping Workers and Organizations Prepare for the 2022 WELS Retirement Program Changes

Following the 2021 synod convention’s endorsement of the WELS Pension Plan freeze and transition to a defined contribution plan in 2022, WELS has produced the following three videos to help called workers and sponsoring organizations prepare for the upcoming changes.

The first video summarizes the upcoming WELS Retirement Program changes.

The second video provides called workers with an introduction to the WELS Shepherd Plan and how the new defined contributions can be used.

The third video provides sponsoring organizations with the actions to be taken to support their workers and the new defined contribution plan.

The following is a summary of the main actions for organizations and workers to take to prepare for the new defined contribution plan:

  1. WELS sponsoring organizations will need to join the WELS Shepherd Plan as of January 1, 2022 if they have not already;
  2. WELS sponsoring organizations should create participant accounts on the WELS Shepherd Plan website for their eligible workers who do not already have Shepherd Plan participant accounts based on their service at their current organizations; and
  3. Called workers should log in to their WELS Shepherd Plan participant accounts to verify demographic information, select investment allocations for their new defined contributions, and select beneficiaries.

The WELS Benefit Plans Office and the Hahn Financial Group are happy to help with questions that you may have regarding the upcoming changes. For questions regarding the new defined contribution plan and the WELS Pension Plan, including contributions and billing, please contact the Benefit Plans Office by calling 414-256-3299 or emailing [email protected]. For questions regarding the WELS Shepherd Plan and how sponsoring organizations can enroll and create participant accounts, please contact the Hahn Financial Group by calling 1-800-516-4246 or emailing [email protected].

In addition, a comprehensive “Frequently Asked Questions” (FAQ) page, as well as a benefit comparison tool to help workers to compare their potential benefits at retirement under the current and new programs, are available at the links below.

Blue Cross Blue Shield Settlement

The WELS Benefit Plans Office understands that some WELS VEBA plan members have received a notification regarding the settlement of a lawsuit in which Blue Cross Blue Shield was a party.  The notification provides that individual plan members may have the opportunity to participate in the settlement and file a claim.

Resources are available from the settlement administrator, JND Legal Administration, to address questions about the settlement including the claim submission process and the amount of relief that certain class members may receive.  JND Legal Administration is the best resource for WELS VEBA plan members to contact for any questions related to the settlement, as the Benefit Plans Office cannot provide members with legal and/or tax advice or recommend any particular course of action in this matter.  Contact information for JND Legal Administration was included in the official notifications and is provided below:

Please feel free to contact the WELS Benefit Plans Office by email to [email protected] or by calling 414-256-3299 if you have any questions.

Proposed changes to WELS retirement program 2021

June 2021 Update:  WELS held two webinars, one on June 3 and another on June 8, to inform 2021 synod convention delegates regarding the proposed changes and allow delegates to ask questions.  A replay of the June 8 webinar is available at this link.

A retirement strategy committee was appointed in 2017 and has done extensive research on the best options for providing future retirement benefits to workers. The committee has completed its work and recommends that some changes be made to the WELS retirement program.

In summary, it is proposed that the WELS Pension Plan be frozen and replaced with a defined contribution plan, wherein all eligible workers would receive contributions to individual accounts in the WELS Shepherd Plan to be used for retirement benefits. The proposed changes have been reviewed and endorsed by both the Conference of Presidents and Synodical Council.

The WELS Retirement Strategy Committee invites you to learn more about these proposed changes by viewing the presentation included above.

In addition to the presentation, a comprehensive “Frequently Asked Questions” (FAQ) page is available here: FAQ page.

WELS has also developed a benefit comparison tool, which will help workers to compare their potential benefits at retirement under the current and proposed programs, and is available here: comparison tool.

The proposed changes will be a significant topic on the 2021 synod convention agenda. A resolution will be provided for the delegates to review, discuss, and vote on during the convention.  If the convention approves the resolution, it is anticipated that the proposed changes will be implemented as of January 1, 2022.  Information will be included in the Book of Reports and Memorials leading up to the convention.

It is important to note that, if the proposed changes are approved and implemented, all benefits earned under the WELS Pension Plan prior to its freeze date will be honored and paid according to the plan’s terms.  Benefits earned under the WELS Pension Plan will not be lost as a result of the proposed changes.

WELS is committed to providing detailed, transparent information during this process.  Please refer to the FAQ page which will be updated with additional information.  If you have any questions, concerns, or comments regarding the proposed changes, please submit them to WELS using the feedback form here: feedback form.

Retirement Benefits and Housing Allowance for Ministers of the Gospel

Effective July 1, 2020, WELS announced a change in its interpretation of the workers who may be considered “ministers of the gospel” for federal tax purposes, which was based on a thorough investigation and legal opinion from a nationally recognized expert in this area of tax law.  Read the WELS announcement here.

Distributions from the WELS Pension Plan and the WELS Shepherd Plan to a participant who served as a minister of the gospel, for benefits earned under the Pension Plan or eligible contributions made to the Shepherd Plan based on that participant’s service as a minister of the gospel, may be excludable from taxable income as a housing allowance to the extent permitted by Internal Revenue Code section 107.

The announced change and corresponding minister of the gospel tax status apply to workers who perform service on or after July 1, 2020.  Therefore, benefits earned under the Pension Plan and eligible contributions made to the Shepherd Plan for service performed on or after July 1, 2020 by workers who may be considered ministers of the gospel (as determined by WELS) may be eligible for distribution as a housing allowance.  However, benefits earned under the Pension Plan and contributions made to the Shepherd Plan for service performed before July 1, 2020 by workers who were not considered ministers of the gospel (as determined by WELS) when that service was performed will not be eligible for distribution as a housing allowance.

Please feel free to contact the WELS Benefit Plans Office by email to [email protected] or by calling 414-256-3299 if you have any questions.

CARES Act and WELS VEBA Benefits

The WELS VEBA Commission has approved several enhancements to the WELS VEBA health plan benefits in response to COVID-19 and the ongoing public health emergency.  A summary of the enhancements is provided below.

  • WELS VEBA will cover, at 100% of the plan’s maximum allowable amount, eligible billed charges for the medically appropriate diagnostic test for detection of the virus that causes COVID-19 and for a provider visit that results in an order for the diagnostic test (including a provider visit that is obtained by telephone or the internet).  This benefit will be provided for the duration of the COVID-19 national public health emergency.
  • WELS VEBA will cover, at 100% of the plan’s maximum allowable amount, eligible billed charges for covered medical services to treat COVID-19 for a member who is diagnosed with COVID-19.  This benefit will be provided from April 1, 2020 through December 31, 2020.
  • WELS VEBA will cover, at 100% of the maximum allowable amount, eligible billed charges for telephone and internet consultations obtained at Anthem LiveHealth Online providers.  This benefit will be provided from March 18, 2020 through December 31, 2020.
  • WELS VEBA will cover, up to the plan’s maximum allowable amount and subject to deductible and coinsurance, eligible billed charges for telephone and internet consultations obtained at providers that are not part of Anthem LiveHealth Online.  This benefit will be provided from March 18, 2020 through December 31, 2020.