What is SEARV?
SEARV is the name of the VEBA Trust set up to provide post 65 health care Medicare Supplemental Coverages to a defined class of OEA staff retirees
What does the SEARV coverage include?
Currently SEARV coverage includes both a Medicare Supplement, Prescription Drug Coverage, Vision services, and Dental Services.
Do I have vision services?
Yes, newly added 1/1/202 through National Vision Administrators - NVA
Do I have dental services?
Yes, newly added 1/1/2020 through Delta Dental
What is a VEBA?
VEBA is an acronym for a Voluntary Employee Benificary Association which under IRS rules is established to provide certain qualified benefits to a class of people.
Who runs the VEBA?
SEARV is run by a five person Board of Directors. Three positions are members of the class and two are outside members. Terms are for three years and are staggered.
Does OEA control the VEBA?
No. The operation of SEARV is totally independent from OEA. OEA is just required to fund the Trust according to a settlement agreement.
Who do I call if I need help?
Call or Email the third party administrator or any Board members. Contact information is located at the bottom of this page or on the Contact Us page on this web site.
What Happens when I turn 65?
Please refer to the Turning 65 page on this web site.
Do I need to do anything when I retire?
Yes. Please refer to the pre-65 and turning 65 pages on this web site.
Am I required to take SEARV coverage?
No. Several retirees have opted out of coverage. Should you choose to do so you may opt back in on either the year end open enrollment window, or if you have a change in life circumstance such as loss of other coverage or death.
Does SEARV have anything to do with pre-65 coverage?
No. Only in a rare SSDI situation.
How much does the coverage cost?
Currently premium cost is $30/mth. That cost is set annually by the Board of Directors.
How does the Affordable Health Care Act impact my coverage?
Currently the ACA does not impact your coverage. It could, however, impact the cost of that coverage for the VEBA Trust. Negative impact is not seen at this point in time.
Does SEARV have anything to do with my pension?
No. Your pension is administered by OEA and is totally separate from the VEBA Trust.
What about Medicare parts “A” and “B” and "D"?
Since both the medical supplement coverages are coordinated with Medicare parts “A” and “B” both of those plans are required. Medicare part "D" is Medicare's Prescription Drug coverage and is a part of your SEARV Plan premium. If you have a higher income you may experience a small "surcharge" to your medicare premium for part "D".
Is my spouse covered?
Generally, yes. Any person who was a spouse on the date of the settlement 5/11/2010 is covered.
What happens if I divorce and remarry?
Divorced and new spouses are not covered. Please contact us if you have any questions.
What about my disabled son or daughter?
Any disabled son or daughter, who was covered by OEA on the date of the settlement, 5/11/2010, is covered.
Is the VEBA in business forever?
No. The class that makes up the VEBA Trust is a closed group. The VEBA is set up to provide coverage until there is no longer a living member of the class.
I am still employed by OEA. Am I covered when I retire?
If you are part of the class yes. Please refer to the pre-65 or Turning 65 pages on this web site.
