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Nonprofit Overview
Causes: Voluntary Employees Beneficiary Associations (Government)
Mission: To provide participants and their dependents with post-retirement medical benefits not provided by medicare or any other medical insurance contract or plan.
Programs: This trust holds the assets of the city of santa clara voluntary employees' beneficiary association postretirement medical reimbursement account plan (the plan). The plan was established on october 15, 2001, and has most recently been amended and restated effective january 1, 2017. The plan is a defined contribution, health and welfare benefit plan commonly referred to as a "health reimbursement arrangement" plan. The plan is designed to be a tax-free account for participants to pay post-retirement medical benefits not provided by medicare or any other medical insurance contract or plan. The payments or reimbursements may not be made for items paid or payable by any other insurance contract or plan, or for expenses that are deducted by the participant under any section of the internal revenue code. The aforementioned expenses must be expenses of the participants, the spouses of the participants and/or the dependents of the participants.