Eligible members should have received a letter (excerpt below) from Verizon about the HRA benefit in mid December.
Welcome to the Health Care Reimbursement Account!
As an eligible Verizon associate, beginning January 1, 2013, you will have a Health Reimbursement Account (HRA) established by Verizon to help you pay for eligible health care expenses for you and your eligible dependents.
Beginning January 1, 2013, you will be able to view and manage your HRA on the BenefitsConnection website at www.verizon.com/benefitsconnection. Click the Spending Accounts tab and then follow the instructions below to learn more about your HRA and how to manage your account online.
Your HRA: The Essentials
- Who is eligible for the HRA? To be eligible for the HRA, as of January 1, 2013, you must be a full-time employee or a part-time employee (working at least 17 hours per week), be eligible for the medical plan (but do not have to enroll in the medical plan), and have completed at least 3 months of net credited service.
- How much will I have available in my HRA? Verizon will allocate a one-time credit of $850 for each eligible full-time employee and a one-time credit of $425 for each eligible part-time employee.
- Can I use my HRA to reimburse myself for medical plan premiums or contributions? No. Verizon’s HRA cannot be used to reimburse the amount that you (or any of your dependents) pay towards coverage (sometimes referred to as a premium or contribution) under the Verizon medical plan or any other plan.
- Can I carry over my HRA balance from year to year? Yes, as long as you remain an eligible participant.
To view more information about HRA or HCSA and eligible expenses, visit the VZ benefits website at www.verizon.com/benefitsconnection . From the spending accounts tab, select tools and resources and select the list of eligible health care spending account expenses from the drop down menu.
If you have any questions call the Verizon benefits center at 855-489-2367, M-F, 8am-6pm.