MBA VEBA
VEBA Benefits Assist Banks in Attracting, Retaining Talent By Joyce Kennedy, Manager of Insurance Services
Association (MBA VEBA) was created to offer MBA-member entity controlled by Missouri banks. A nonprofit independent trust, MBA VEBA only provides benefits to MBA members. Our benefits assist you in attracting and retaining talented employees for your banks.
MEDICAL MBA VEBA offers three qualified high deductible health plans and six PPO medical plan designs. We partner with a top national network — Anthem BCBS Health Network — for discounts and network coverage and OptumRx for pharmacy benefits. MBA VEBA’s health plans are fully compliant with the Affordable Care Act, protecting our members from future excise taxes and other penalties.
DENTAL Delta Dental of Missouri administers the self-insured dental plan. MBA VEBA offers two dental plans.
VISION United Health Care administers the vision plan. MBA VEBA offers two vision plans — standard vision and enhanced vision.
LIFE MBA VEBA offers employee and dependent life insurance coverage with a variety of options.
ADDITIONAL LIFE MBA VEBA offers voluntary additional life coverage for employees and dependents. A bank must offer the base life plan to offer the additional life coverage.
LONG- and SHORT-TERM DISABILITY MBA VEBA offers both coverages through UNUM. Te long- term disability plan includes Work-Life Balance Employee
Assistance Program and Worldwide Emergency Travel Assistance Program. Te short-term disability plan can be employer-sponsored or voluntary.
GROUP ACCIDENT and FELONIOUS ASSUALT PLANS MBA VEBA’s group accident insurance plan provides financial protection for employees and their families in the event of an accident or dismemberment. It provides worldwide 24/7 coverage both on and off the job.
FELONIOUS ASSAULT MBA VEBA offers felonious assault coverage providing protection to employees for injury or loss of life sustained in a criminal act during bank operations.
SECTION 125 CAFETERIA PLAN ADMINISTRATION MBA VEBA can administer this for all member banks, whether you offer the medical plan or not. • Premium Only Plan (POP) • Flexible Spending Account (FSA) • Dependent Care Assistance Plan
We also provide to our members: • online enrollment through our online Group Benefits Portal • consolidated bill with all lines of coverage • cafeteria plan administered directly by VEBA staff in Jefferson City with weekly ACH reimbursements
• open enrollment each fall • customer service calls with VEBA staff in Jefferson City • telemedicine benefit for all medical-enrolled members • low administrative costs • COBRA administration • assistance in the completion of IRS 1094/1095 forms
Visit
mobankers.com for more information or contact Joyce Kennedy at
jkennedy@mobankers.com.
THE MISSOURI BANKER 11
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