VEBA
About VEBA
UFA values its employees and continually strives to educate and help them better understand and utilize their benefits and be better prepared for a successful retirement.
In an effort to increase funds available to employees to use for post-employment medical expenses through their VEBA plan, the Benefits and Compensation Committee, with the support of Local 1696, considered a proposal to channel the increase in employee wages related to a COLA to employees’ VEBA accounts.
For FY21/22, the CPI-U is 1.2%. As there are tax savings associated with the VEBA plan for both the employee and the employer, the UFA Finance Committee recommended a 2% VEBA contribution (1.2% COLA as well as an additional 0.8%) as part of the plan for all full-time merit employees (firefighter and non-firefighter) that would begin on January 1, 2022. The UFA Board of Directors approved these adjustments in the final budget resolution.
As a matter of information, UFA relies on the CPI-U (U.S. City Average for all Urban Consumer) annual average as the target reference for discussions related to Cost-of-Living Adjustments. This is the same CPI that Utah Retirement Systems relies on to determine adjustments for its retirees.
VEBA is a Voluntary Employees’ Beneficiary Association (VEBA) plan. It is a type of tax-exempt trust used to reimburse medical expenses of employee’s and eligible dependents post-retirement or after separation from UFA. Eligible medical expenses include but are not limited to: health insurance premiums; Medicare Part B and supplemental plans; out-of-pocket medical, dental, prescription, and vision expenses, etc. (cosmetic procedures are excluded).
The IRS defines qualifying eligible expenses in IRS Code – Section 213(d), Eligible Medical Expenses. The plan is funded through UFA contributions on the employee’s behalf, as described below.
For additional information, visit IRS VEBA – 501(c)(9).
Access Employee Account
Employees can access and manage their Unified Fire Authority VEBA account through the CompuSys portal or the mobile app. Through the CompuSys portal and mobile app, employees can do the following:
- File a claim online
- Upload receipts and track expenses
- View up-to-the-minute account balances
- View account activity, claim history and payment (reimbursement) history
- Update personal profile information
- Change a password
- Download plan information, paper claim forms and notifications
To log into the CompuSys portal, employees will need their login ID which is first initial, last name, last 4 of social security number (i.e., wsmith1234) and the password is (CompuSys).
Then click Login. There will be a prompt to change the initial password on the first login attempt.
The mobile phone app enables employees to access their VEBA account easily and securely. Employees can view account balances and details, submit healthcare account claims, and capture and upload pictures of their receipts anytime on any iPhone, Android, or tablet device. Employees can sign up to receive account alerts via text message.
Employees can download the app from the App Store or Google Play Store by searching for CompuSys. The login credentials will be the same for both the online portal and the mobile app.
For more information, visit the VEBA Links sidebar.
