• Eligible Expenses
• Potentially Eligible Expenses
• Ineligible Expenses
• Crossover
• Claim Submission Tips
• Investment Options

The Minnesota Service Cooperatives VEBA Plan is a health reimbursement arrangement that allows your employer to contribute money to a trust on your behalf.

The money in your account is yours to use or save. Use it to pay for eligible medical expenses now, or save it for future expenses and earn interest. You also have the option to invest a portion of your unused VEBA dollars.

Learn more about claim submission tips or interest rates.

You can enroll in the VEBA plan in one of these situations:

Active Employees

As an active employee, your employer can establish a VEBA to work with your high-deductible health plan. You can use the money in your VEBA account to pay health plan deductibles, co-pays and coinsurance as well as prescription drugs. If you do not spend the money by year-end, your balances will be rolled over — allowing you to accumulate funds over time and save for health expenses in retirement.

Post Retirement VEBA

With a post-retirement VEBA, your employer can contribute funds to help you, your spouse and eligible dependents pay for medical expenses after you retire. Your employer can make contributions throughout your working life or convert accumulated severance pay, sick pay and similar longevity-based benefits into contributions to your VEBA account.

You will be able to use the VEBA Plan for medical expenses, including the premium cost for continuing employer-provided health coverage or Medicare Part B. Medical expenses reimbursed by the VEBA account include the cost of deductibles, co-pays or co-insurance and prescription drugs. (Note: The individual account is managed by the retiree, and investment options are offered through SelectAccount.)