Each year at the beginning of March, eligible retirees receive a partial reimbursement from the UFT Welfare Fund for the cost of an optional prescription drug rider. This year, the amount will increase.
“After a career of supporting the children of New York City, our retirees deserve the very best,” said UFT President Michael Mulgrew when the increase was announced on Feb. 1.
Retroactive to Jan. 1, 2024, the reimbursement from the UFT Welfare Fund will be up to $900 (in 2023, the maximum reimbursement was $840) for retirees whose optional drug rider health plan deduction was in effect for the full year. Retirees whose rider was in effect for less than 12 months will receive reimbursement at the rate of $75 per month (up from $70). If the monthly deduction was not greater than $75, the UFT Welfare Fund will cover the full amount.
Eligible retirees on New York City health plans should automatically receive their checks by mail. Those who have not received a check by May 1 are asked to submit a rider claim form, available on the UFT website. The processing time is at least four weeks.
The optional rider benefit is also available to retirees on health plans based outside New York City, but the reimbursement will not be mailed automatically; claimants can submit the non-NYC rider claim form from the UFT website. And retirees need not be the primary holder of the health insurance — that is, they can be covered under their spouse or domestic partner’s plan. Again, for those without a New York City health plan, reimbursement is not automatic; the appropriate claim form must be filed each year.
Retirees who have returned to work in positions that provide in-service prescription drug benefits and use this benefit will have their optional rider reimbursement reduced by the prescription drug costs paid by the UFT Welfare Fund, calculated on a month-by-month basis.
The optional rider reimbursement was previously increased three years ago.
“We are committed to protecting our members and minimizing their out-of-pocket costs,” Mulgrew said.