One of the benefits for S.U.P retired members is the reimbursement of Medicare Part B deductions from your Social Security check. The Welfare Plan will reimburse you and the monthly amount will be deducted from your Annual Medical Allowance, and paid on your monthly S.U.P pension check. If you are not already signed up for this benefit, all that is needed is a copy of your Medicare Part B card. Please also be aware that if you are married and wish to make your spouse eligible for this benefit you will need to mail a copy of her Medicare Part B card along with her date of birth.
Social Security benefits are scheduled to rise in 2003. In January most Social Security recipients will receive an increase of about $13.00 a month. This amount equates to about a 1.4 percent increase.
Medicare Part B deductions are also scheduled to increase in 2003. Currently the deduction is $54.00 a month. In January 2003 the deduction will increase to $58.70 a month, an increase of $4.70 a month or about an 8.7 percent increase.
For those members who are currently reimbursed by the S.U.P Welfare Plan, the new rate increase will be reflected in your pension check. Please be aware that you do not need to do any extra work, or phone the Plan Office to obtain this new increase and that the Welfare Plan is making all the necessary adjustments.