The Retiree Medical Savings Plan (RMSP) was created by the Trustees of the Midwest Operating Engineers Welfare Fund and is designed to make retiree’s health care spending more manageable and flexible. The funds accumulated under this program can be utilized in a variety of ways to cover your healthcare expenses as you phase into retirement. The Retiree Medical Savings Plan account is just another example of how your Trustees continue to find ways to improve your benefits.
For more details regarding the RMSP account, refer to the Retiree Welfare Plan Summary Plan Description. If you have any questions regarding the RMSP account, please call the Member Services at (708) 579-6600.
If you are considering retirement, it’s extremely important that you attend an open enrollment event prior to your selected retirement date.
This will be the last opportunity prior to retirement that you will be able to transfer credits from your Credit Bank to your Retiree Medical Savings Plan (RMSP) account. Recall your RMSP account can be used to pay for your Retiree Welfare Plan premium if you are eligible for the RWP. If you do not transfer enough credits during open enrollment, you will run out of your active credit bank until you transfer over to the RWP. When you become eligible for retiree coverage, you are no longer eligible for weekly disability, death benefits, or accidental dismemberment benefits (except Local 537; please call Fund Office for more information).
These balances are funded by pre-tax hourly contributions made by your employer at the hourly rate included in the collective bargaining agreement. Annually, the Fund Office will add your share of the RMSP investment earnings to your balance. For the last few years, the Trustees have approved 4% investment earnings to be allocated to each eligible member’s account as of each December 31st.
You can view your RMSP account by logging into your My150 account and view your My HOURS page.
Marketplace members only: If you are eligible to transfer credits from your active credit bank or credits are automatically transferred on your behalf, these amounts will be reflected as of each March 31st.
- Premiums for another healthcare plan.
- Expenses not payable under another plan including deductibles and co-pays (including Rx)
- Medicare Part A & B premiums
- Medicare Advantage Plan premiums
- Medicare Part D (prescription drug) plan premiums
- Medicare supplement premiums (“Medigap”)
- Tax-Qualified long-term care insurance premiums
- Tax-Qualified nursing care expenses
- Tax-Qualified home health care and hospice care
You must complete the RMSP claim form linked at the top of this page. Please be sure to include your receipts for each claim you are submitting.