CVS Caremark™, NRECA’s pharmacy benefit manager, has announced changes to the NRECA Medical Plan’s prescription drug coverage that will take effect April 1, 2023. CVS Caremark and NRECA continually review and update drugs covered under the plan to help ensure[…]
Your cooperative’s 2023 Group Benefits Program summary plan description (SPD) and summary of material modifications (SMM) documents must be distributed to plan participants by March 1, 2023. If you haven’t distributed them yet, do so right away. Download them from[…]
If your cooperative has subgroups participating in the NRECA Medical Plan, we are asking for your help in collecting government-mandated data on employee-paid medical premiums by end of day, March 22, 2023. The Consolidated Appropriations Act (CAA) of 2021 requires[…]
Today is the deadline to submit your cooperative’s 2022 compliance questionnaire and W-2 data for use in performing annual required nondiscrimination testing on the 401(k) Pension and Retirement Security Plans. The resources you’ll need are posted on the Employee Benefits[…]
In January, we shared news of the legislative victory contained in the Consolidated Appropriations Act of 2023 that brings limited relief for certain cooperative employees participating in the Retirement Security (RS) Plan from certain benefit limitations associated with IRC Section[…]