| Administrator |
The Iron Workers District Council of Southern Ohio
and Vicinity Benefits Trust, Pension Trust, Annuity Trust. The Administrator co-ordinates enrolment
into the Plans, processes claims, and
answers all Member questions regarding the Trust Plans.
|
| Annuity |
Pension income purchased from a life insurance company.
|
| Beneficiary |
The person(s)/Estate that you designate to receive Life Insurance,
Accident Insurance and/or Pension benefits upon your death.
|
| Co-Insurance |
The amount paid by the Member after the deductible has
been satisfied on any Medical, Vision,
Dental or Supplemental Travel claim.
|
| Coordination of Benefits |
The ability to make a claim for Extended Health Care and/or Dental eligible
expenses under your Benefits Plan and your spouse's benefits plan.
This allows you to receive up to 100% reimbursement for an eligible Medical or Dental expense.
|
| Deductible |
The amount of out-of-pocket expense that a Member must incur prior to being eligible for reimbursement on subsequent claims.
|
| Dependent |
A dependent for this Plan is defined as:
- The Spouse of an insured person.
- Unmarried children to their 19th birthday.
A child is not a dependent if eligible for, or entitled to, benefits under this Plan
as a Member.
|
| Lowest Cost Alternative Drug |
The lowest cost equivalent product that can be legally used to fill the prescription.
|
| Pension Benefits |
The income that you will receive at retirement.
|
| Self- Pay |
Mechanism that allows unemployed members to pay monthly premiums out of their pocket and continue to
participate in the Benefits Plan.
|
| Social Security |
Government provided Pension payable to all US citizens
from age 65 based on your years of work experience in
the US, and subject to claw-back if your retirement income
after age 65 exceeds a certain level.
|
| Weekly Indemnity |
A benefit that pays a specific amount per week for up to
26 weeks if you are unable to work due to sickness or accident.
See Weekly Indemnity for details on this benefit.
|
