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Trustees Approve New Health Plan Rates and Suspension Rules
The Trustees of the Northwest Carpenters Health and Security Trust recently approved three important changes to the Northwest Carpenters Health and Security Plan.
Effective with December 2023 deductions for January 2024 dollar bank eligibility, the monthly deduction amount will increase from $1,000/month to $1,050/month. For initial eligibility, a participant must accumulate a minimum of $3,150 (equal to three months of eligibility) in their dollar bank within a six-month period, with at least $1 in contributions during the first four months of the six-month period. The maximum dollar bank balance will increase from $8,000 to $8,400 to preserve the eight-month future eligibility maximum.
The suspension of eligibility rules for noncovered employment were modified effective October 1, 2023. Noncovered employment now includes work for which no contributions are required to be made to Northwest Carpenters Trusts or to another Trust sponsored in whole or in part by the United Brotherhood of Carpenters and Joiners of America, including any of its affiliated locals or regional councils.
The Board of Trustees also approved new rates for Self-Contribution Coverage, COBRA Continuation Coverage, and Retiree Coverage. These rates are effective December 2023 for January 2024 eligibility.
For details about these changes, read the Summary of Material Modifications (SMM) posted on our website. If you have any questions, please contact Participant Services at Northwest Carpenters Trusts: (800) 552-0635 or email@example.com.