Overview
What is Uaw Retiree Medical Benefits Trust?
The Uaw Retiree Medical Benefits Trust is a Detroit, Michigan-based nonprofit organization governed by an 11-person committee, with a mission to serve as a source for retiree healthcare coverage for its members. The Trust, which became the largest non-governmental purchaser of retiree healthcare in the US upon launch in 2010, has since provided healthcare benefits to over 580,000 people in 2022. Its purpose is to administer funds for post-retirement medical benefits, adhering to a strict code of ethics and maintaining separate trust accounts for each auto plan. The Trust made great strides in finding ways to control costs while improving benefits, lowering deductibles, out-of-pocket maximums, and office visit copays for certain health plans in 2022. The Trust membership is geographically and demographically diverse, with robust communication channels in place to keep beneficiaries informed. The Trust sent communications to members regarding 2022 and 2023 enrollment and plan offerings, handled nearly 310,000 calls at Retiree Health Care Connect, and distributed printed mailings to nearly 400,000 contract-holder participants. The Trust and carriers communicated directly with members regarding benefits, prevention, chronic conditions, and disease management. The Member Experience Team resumed in-person retiree meetings after two years of virtual meetings in fall 2022, attending a total of 182 meetings.
Is Uaw Retiree Medical Benefits Trust legitimate?
Uaw Retiree Medical Benefits Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Uaw Retiree Medical Benefits Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $6,267,698
Professional Fundraising Fees: $0
Other Salaries and Wages: $17,863,722
For more financial information, click here
What is the mission statement of Uaw Retiree Medical Benefits Trust?
The UAW Retiree Medical Benefits Trust is a voluntary employee beneficiary association established to manage funds for post-retirement medical benefits. Its primary mission is to provide healthcare coverage for its members, enabling them to attain their best quality of life. The Trust is governed by an 11-person committee, with six independent members and five appointed by the UAW. The organization maintains separate accounts for each auto plan and serves over 580,000 members. Since its launch in 2010, it has become the largest non-governmental purchaser of retiree healthcare in the US. In 2022, the Trust paid approximately $4.0 billion for healthcare benefits and filled over 14.9 million prescriptions for members. The Trust aims to keep beneficiaries informed through various communication channels and worked to lower deductibles, out-of-pocket maximums, and office visit copays for certain plans. Additionally, the Trust expanded healthcare benefits and enhanced members' vision benefits, introducing a new over-the-counter benefit. The membership is diverse, and the Trust maintains robust communication with members to operate in a transparent manner.
Who is the CEO of Uaw Retiree Medical Benefits Trust?
Garon Meikle is the Chief Investment Officer of Uaw Retiree Medical Benefits Trust. The CEO's salary of Uaw Retiree Medical Benefits Trust is $936,655 and their total compensation is $972,203.
What is the revenue of Uaw Retiree Medical Benefits Trust?
Uaw Retiree Medical Benefits Trust's revenue in 2022 was $2,003,354,514.
Who are the executives of Uaw Retiree Medical Benefits Trust and what are their salaries?
The average compensation at Uaw Retiree Medical Benefits Trust during 2022 was $178,751. There are 135 employees at Uaw Retiree Medical Benefits Trust.
Here are 26 key members and their salaries (Uaw Retiree Medical Benefits Trust's CEO's salary is $936,655 and their total compensation is $972,203):
- Compensation: $1,607,376
- Related: $0
- Other: $50,788
- Compensation: $1,033,025
- Related: $0
- Other: $31,022
- Compensation: $936,655
- Related: $0
- Other: $35,548
- Compensation: $807,866
- Related: $0
- Other: $30,918
- Compensation: $779,883
- Related: $0
- Other: $42,533
- Compensation: $671,062
- Related: $0
- Other: $44,288
- Compensation: $586,859
- Related: $0
- Other: $46,149
- Compensation: $548,495
- Related: $0
- Other: $12,441
- Compensation: $507,697
- Related: $0
- Other: $44,210
- Compensation: $500,931
- Related: $0
- Other: $39,870
- Compensation: $420,196
- Related: $0
- Other: $27,936
- Compensation: $298,729
- Related: $0
- Other: $46,077
- Compensation: $177,075
- Related: $0
- Other: $0
- Compensation: $67,160
- Related: $0
- Other: $0
- Compensation: $66,418
- Related: $0
- Other: $0
- Compensation: $55,024
- Related: $0
- Other: $0
- Compensation: $52,633
- Related: $0
- Other: $0
- Compensation: $50,825
- Related: $0
- Other: $0
- Compensation: $33,107
- Related: $0
- Other: $0
- Compensation: $21,252
- Related: $0
- Other: $0
- Compensation: $701
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Uaw Retiree Medical Benefits Trust?
Uaw Retiree Medical Benefits Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Uaw Retiree Medical Benefits Trust
The UAW Retiree Medical Benefits Trust, a voluntary employee beneficiary association, is dedicated to administering funds for post-retirement medical benefits. Its primary mission is to serve as a reliable source for retiree healthcare coverage for its members. The Trust aims to provide every member with health benefits and the opportunity to attain their best quality of life.
Governed by an 11-person committee, the Trust comprises six independent members and five members appointed by the UAW. Additional subcommittees exist for plan administration, investment, and audit. All committee members and trust staff strictly adhere to a code of ethics. The Trust's purpose is to provide healthcare coverage for its retirees.
Separate trust accounts are maintained for each auto plan (GM, Ford, and Chrysler) from which benefits are paid. Since its launch in 2010, the Trust has grown to become the largest non-governmental purchaser of retiree healthcare in the United States, providing healthcare benefits to over 580,000 people in 2022. The Trust continues to serve its mission by reviewing the benefit design each year and making necessary adjustments.
In 2022, the Trust paid approximately $4.0 billion in healthcare benefits for its retirees and dependents, including filling over 14.9 million prescriptions for members during the plan year. The Trust has made significant strides in finding ways to control costs while improving healthcare benefits. For 2022, members were introduced to a new over-the-counter benefit.
The Trust membership is geographically and demographically diverse. The Trust maintains robust communication with its membership to operate in a transparent fashion. It keeps beneficiaries informed on the Trust activities and the benefits provided by the Trust. The Trust and carriers sent a series of communications to members regarding 2022 and 2023 enrollment and plan offerings. Retiree Health Care Connect, the call center for Trust members, handled nearly 310,000 calls from members and union benefit representatives in 2022. A series of printed mailings were distributed by the Trust to nearly 400,000 contract-holder participants in 2022, updating them on benefits provided by the Trust and the Trust's financial position. Trust Partners communicated directly with members, on behalf of the Trust, regarding benefits, prevention, chronic conditions, and disease management where appropriate. Members with specific gaps in care were sent communications encouraging them to take preventive measures to manage their condition(s), improve their health status, and engage with their primary care physician. The Trust leverages various communication formats, including its branded website and videos, to complement mailings. The Member Experience Team was able to travel to in-person retiree meetings in the fall of 2022 after two years of virtual meetings due to the COVID-19 pandemic. The team attended a total of 182 retiree meetings and held virtual sessions via Zoom and dial-in calls to inform members of 2023 annual benefit changes and other information. The team hosted approximately 30 sessions listened to by nearly 10,000 members.
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Impact
October, 2024
The UAW Retiree Medical Benefits Trust significantly impacts the health and well-being of over 580,000 members by providing post-retirement healthcare benefits. Established in January 2010, it has become the largest non-governmental purchaser of retiree healthcare in the United States. The Trust administers separate accounts for different automotive plans, ensuring that benefits are distributed appropriately to retirees from GM, Ford, and Chrysler.
In 2022, the Trust paid approximately $4 billion in healthcare expenses, including over 14.9 million prescription fillings. This extensive financial commitment underscores its role in improving retirees' access to necessary medical care. The Trust actively works to control costs while enhancing benefits, having recently lowered deductibles and out-of-pocket maximums, expanded healthcare offerings, and introduced new over-the-counter benefits.
Communication and transparency are prioritized, with robust outreach efforts that include printed mailings, a dedicated website, and in-person meetings. The retiree healthcare connect call center efficiently handled nearly 310,000 inquiries, reflecting the Trust's commitment to responsive service. Moreover, a focused approach on preventive care and chronic condition management helps members maintain better health outcomes.
Overall, the Trust embodies a commitment to improving retirees' quality of life through comprehensive healthcare coverage and dedicated support, reinforcing the importance of effective post-retirement healthcare solutions within the automotive sector.
This information is meant to be a general summary of Uaw Retiree Medical Benefits Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $545,616,057
- Program Service Revenue: $906,698,005
- Gross Receipts: $3,765,202,164
Assets and Liabilities:
- Total Assets: $62,366,524,500
- Total Liabilities: $3,923,915,656
- Net Assets: $58,442,608,844
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EGWP FEDERAL SUBSIDY
Revenue
$864,336,357
PARTICIPANT CONTRIBUTIONS
Revenue
$42,361,648
Organization Details
Founding Year
2008
Phone
(313) 324-5900Principal Officer
Garon Meikle
Main Address
1155 BREWERY PRK BLVD ST 400, DETROIT, MI, 48207
NTEE Category
Code: Y43 - Mutual benefit
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