Good news on two fronts
The 2021 premium rates for the WELS VEBA Group Health Care Plan will not change compared to the current 2020 rates. In other words, the 2020 rates for all WELS VEBA health and dental plan options will remain in effect for 2021. The WELS VEBA health plan has experienced better-than-expected claims costs and investment returns over the past 18 months, which has allowed the WELS VEBA Commission to keep 2021 rates the same as they were in 2020. No significant changes to cost-sharing amounts (deductibles) or covered services are expected for the 2021 plan year.
In contrast to rising costs of healthcare nationwide, WELS VEBA rates will have increased by only four percent over the three-year period from 2019-21. This does not include the approximately $4.2 million in savings passed on to participating sponsoring organizations during the previously announced August 2020 WELS VEBA premium holiday.
Mr. Joshua Peterman, director of Benefit Plans, says, “The Lord continues to bless WELS VEBA to provide the commission with the financial flexibility to hold the rates flat for 2021 while maintaining adequate plan reserves. The commission is pleased to provide this rate stability to help support WELS ministry efforts.”
In addition, the WELS VEBA Commission has approved a limited open enrollment that will run from Nov. 2, 2020, through Nov. 30, 2020, for coverage effective Jan. 1, 2021. Eligible workers serving at sponsoring organizations with at least one active worker enrolled in the WELS VEBA health plan will have the opportunity to enroll for new coverage or make changes to their existing WELS VEBA coverage. Open enrollment materials will be mailed to eligible workers in late October. View 2021 health rates.
Another piece of good news is that Congregation Mission Offerings (CMO) for June totaled $1,795,803, an increase of 28.9 percent over June 2019. Year-to-date CMO is now $9,480,520, 2 percent above prior year-to-date receipts and 1.9 percent above year-to-date subscriptions. We are thankful that the Lord has enabled our congregations and members to continue their generous support for the work we do together as a synod even in these challenging times.
Serving with you in Christ,
WELS President Mark Schroeder
