Health Care Reimbursement Account (HCRA)

Health Care Reimbursement Account (HCRA)

Unused contributions from your time as an active member do not disappear when you stop working. You can use them to help cover your out-of-pocket medical expenses as a retiree with a Health Care Reimbursement Account (HCRA).

What Is a HCRA?

A HCRA is SASMI’s current retiree benefit, and is available to eligible members who retire from work in the sheet metal industry on or after January 1, 2010. It’s funded through employer contributions to SASMI for the hours you work in covered employment. 

You can use your HCRA to receive reimbursement for qualifying health care expenses that you, your spouse or other dependents incur. Expenses may include deductibles, copayments, coinsurance or even premiums you pay to a health insurance carrier or to the SMWIA local union welfare fund. Check this list to see what qualifies as an eligible medical expense.

When you apply for a reimbursement, the money you receive is tax-free and is deposited directly to your bank account; or you can use your SASMI Debit Card at the point of service

HCRA-B

If your collective bargaining agreement contains an obligation to contribute to HCRA-B but not to SASMI, you will not be eligible for SASMI Active Benefits, like unemployment or underemployment.

Your HCRA-B functions just like the regular HCRA benefit, but your balance will be equal to your contributions and compounded interest credits made by your employer on your behalf during your career.

Some local union collective bargaining agreements contain both a SASMI and HCRA-B obligation.

Service-Based Health Care Reimbursement Account (HCRA)

If you retired on or after January 1, 2010, you may have a service-based HCRA. This benefit replaced the retiree health premium benefit and gave eligible members a single benefit of $12,000 as a deposit into a HCRA administered by SASMI. To find out more about the service-based HCRA, refer to your Summary Plan Description.