Revised WELS Veba HIPAA privacy notice published

The Health Insurance Portability and Accountability Act of 1996 (HIPAA) was implemented in order to protect the rights and information of health plan members and improve certain operations in the health care system.

The WELS VEBA Group Health Care Plan (the “Plan”) provides health benefits to eligible WELS/ELS workers and their eligible dependents. The Plan creates, receives, uses, maintains and discloses health information about participating employees and dependents in the course of providing these health benefits. The Plan is required by law to provide notice to participants of the Plan’s duties and privacy practices with respect to covered individuals’ protected health information, and has done so by providing to Plan participants a Notice of Privacy Practices, which describes the ways that the Plan uses and discloses protected health information.

WELS Pension Plan changes announced

The Normal Retirement Age of the WELS Pension Plan (the “Plan”) will be raised to align more closely with the Social Security normal retirement age for benefits earned beginning January 1, 2014.

Important Note: The new normal retirement age will not modify or reduce any benefits earned by participants through December 31, 2013. This change is prospective and will only affect benefits earned for service performed on or after January 1, 2014.

The complete packet of information sent to all active participants is available by clicking this link.