CVS Caremark™, NRECA’s pharmacy benefit manager, has announced changes to the NRECA Medical Plan’s prescription drug coverage that will take effect January 1, 2024.* CVS Caremark recently mailed a letter to participants whose prescription drugs will be affected by these[…]
You may change the billing frequency for your cooperative’s group benefits plans for the upcoming plan year starting November 1. If you want to keep your co-op’s current billing frequency, no action is needed. If you want to change the billing[…]
November 1 is the deadline to give 2024 summary of benefits and coverage (SBC) documents to plan participants and beneficiaries. SBCs were released in September for distribution with your annual enrollment materials or by November 1, if earlier. If you[…]
One provision of “SECURE 2.0” legislation will affect how some 401(k) Pension Plan participants who are age 50 or older can make “catch-up” contributions. This provision was slated to go into effect January 1, 2024, but in August, the IRS[…]
As part of the Consolidated Appropriations Act of 2023, Congress passed legislation—often referred to as “SECURE 2.0”—with a range of provisions affecting employer-sponsored plan coverage, retirement savings and more. NRECA continues to review many optional provisions of SECURE 2.0; others[…]