In an effort to help our churches, active clergy, and lay staff members cope with the financial impact of the pandemic, HealthFlex plan sponsors have been provided a refund of March 2020 premiums. This is the first time that Wespath has issued a premium refund, and it has been made possible due to the better-than-expected recent performance of reserves.
INUMC mailed the premium checks to the churches and plan participants late last week. Please note that the refund is only for the HealthFlex health insurance monthly premium, and does not include any health savings account contributions or pension deductions.
Because this refund comes from pre-tax dollars, it will be necessary for INUMC to issue 1099 Miscellaneous Income statements at the end of the year for this taxable income regardless of the amount of the check. Please seek advice from your tax or financial advisors on how to report this miscellaneous income on your tax filing for 2020.
If you have any questions or concerns, please feel free to reach out to Kathy Mitchell, Associate Director of Support Services at email@example.com, or via phone at 317-564-3236.