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New Welfare Fund

 
 

Background

Because we are now unionized employees, everyone in ALE's bargaining unit (all staff with the title of Council Member Aide, Finance Analyst or Senior Finance Analyst) will transition from the Management Benefits Fund to the Organization of Staff Analysts Welfare Fund. This transition is taking place on July 21st, 2024.

Read more about the OSA Welfare Fund here. After a careful review of several union welfare funds, ALE found that the OSA Fund most closely mirrors the Management Benefits Fund. The OSA Fund will also offer a prescription drug benefit in 2026. This means that members of our bargaining unit will no longer need to purchase a separate prescription drug rider.

 

The OSA Fund was recommended by ALE's democratically elected Bargaining Committee. It was also the top selection of ALE members who voted on three finalists. 

Important: Leaving the Management Benefits Fund in no way impacts your general health insurance or participation in the City's Flexible Spending Accounts program, including DeCAP.

 

Next Steps

  • Every bargaining unit member needs to enroll in the new fund by July 21st. All Council Member Aides, Finance Analysts & Senior Analysts, working at least 17.5 hours per week, are eligible to join.

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  • The OSA Enrollment & Life Insurance Beneficiary forms are fillable PDFs. You can download, complete and submit them per the instructions in the Welcome Letter.

  • Please submit any last reimbursement requests to the Management Benefits Fund now. Depending on the area (vision, dental, etc.) you may be able to retain your current providers once we switch to the OSA fund. Nonetheless, you should obtain any planned services & submit the reimbursement requests applicable to MBF now.

  • The Management Benefits Fund also emailed a fact sheet about the transition to all staff. Read it here.

Notes About OSA Benefits

 

Expanded Vision Benefits: OSA Welfare Fund members have access to both General Vision Services (Council staff's current provider under the MBF) and Davis Vision (MBF's previous provider). See updated benefits info for General Vision Services and Davis Vision.

 

Dental Benefits: To see whether a particular dentist is covered by the OSA WF, please click here.

 

Life Insurance: Please note that all bargaining unit members are automatically eligible for a $50,000 Life Insurance policy via OSA WF. You can also purchase additional Group Term Life Insurance for yourself, your spouse, or your children.

 

Council staff cannot transfer their existing Prudential Life Insurance policies to OSA’s provider, Lincoln Life Insurance. However, you can also maintain coverage with Prudential by paying for it independently. Read more below.

Your Existing "Basic" Life Insurance Policy

According to the Management Benefits Fund website: “If your Basic Life Insurance coverage is reduced or terminated, protection will continue for 31 days. During this time, you may choose one of the following options:

  • Purchase an Individual Policy through Prudential Insurance Company of America with proof of evidence of good health, or

  • Convert your Group Policy to an Individual Policy without proof of evidence of good health.

 

Of the two options listed, you may obtain a lower rate by providing evidence of good health and purchasing an Individual Policy. Prudential can refer you to the appropriate agent by calling 1-877-889-2070.”

Your Existing "Group Universal" Life Insurance Policy

According to the MBF website: "A major advantage of this Plan is that it provides you lifelong, portable coverage. Upon termination of City employment or Fund membership, the insurance carrier will bill you directly at home.

 

Thus, you can continue to be covered for as long as you like, provided you pay the premiums at the portable rate. Please contact Prudential at 1-800-562-9874 for information on rates."

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