The Board of Trustees for the Retirement Insurance Fund has been working on changing how you will receive your benefit payment starting in 2017. This change will not affect the amount of your benefit you have been receiving. One of the main reasons for this change is the increased scrutiny by the IRS for these types of funds and the need to protect the Fund’s non-profit status for the long term sustainability of the fund.
Effective January 1, 2017 all benefits paid to retirees will be as follows, for retirees covered by health and or dental insurance in the PBC Firefighters Employee Benefits Fund (PBCFFEBF), either for your primary or secondary coverage, your check will be sent directly to the PBCFFEBF to offset all your insurance costs, including dental. Any costs exceeding the amount of your benefit shall be paid by you in a similar manner as you currently do. If your benefit exceeds your insurance(s) cost, the difference shall be sent to you in the form of a credit card. This card can be used by you and any of your dependents for any qualified medical or dental expense, a list of expenses has been provided in the IRS publication 502 and IRS Section 213 under forms on this website. If the remaining balance on your credit card is not used by the end of the year, it will rollover until it is used so there will be NO reduction in benefits. If for some reason you are unable to use the credit card for a qualified expense you will be able to submit your receipt(s) or documentation for reimbursement and this amount will be deducted from your remaining balance on the card. Also, you will no longer have to provide an annual affidavit of continued eligibility or proof of insurance coverage.
If you are covered under your spouse's health insurance who is an active employee of PBCFR, you shall also receive your full benefit on a credit card. Again, anyone on the insurance coverage may use this card for qualified expenses including the active employee. You will also be able to submit for reimbursement for the cost of the insurance that you are covered under.
A retiree with any other health insurance except PBCFFEBF’s such as Blue Cross, Aetna, Cigna, Medicare or Tricare etc, will receive their benefit on a credit card and can be used by you or any of your dependents on your insurance to pay for any qualified expense. Again, if you are unable to use this card for payment, you will be reimbursed for qualified expenses paid including health insurance premiums upon submission of your receipt(s) or documentation. With other insurances such as these, an affidavit and proof of insurance shall be required annually.
We will be using Anchor Benefit Consulting, Inc. to issue the cards and process any request for payment of those qualified expenses you may have paid for separately from the credit card. They will also be handling the affidavits and proof of insurance when required. We have provided a link to their site and the contact information for them and they will assign a representative to service your needs. All of the forms you will need are available on our website, as well as theirs. They are currently providing this type of service successfully to Miami-Dade and Broward County VEBA’s
If you receive a credit card, you will have online access to your account setup with Anchor Benefits and will be dealing directly with them on all issues or questions. But, as always, you can contact Mike Bergeron or Rick Rhodes at 561-209-2523 with any questions during this transition.
The Board of Trustees understands this is a major change in the process and realizes this will take some time to operate smoothly and greatly appreciates your patience and cooperation with this transition.