Issue link: https://pma.uberflip.com/i/277369
38 For health coverage, registrants and retirees (and eligible dependents) generally have a choice between HMO coverage and a self- insured PPO plan; new registrants enter an HMO for the first 24 months. In either case, workers pay no premiums. The PPO covers basic hospital, medical and surgical benefits at 100% of scheduled limits, regardless of whether the treatment is received in-network or out-of-network. If there are remaining out-of-network charges, the PPO pays for those up to 80% of Usual, Customary and Reasonable limits. The PPO has an annual family deductible of $300 and out-of-pocket maximum of $1,000. The PPO also provides prescription drug coverage with a $1 co-pay per prescription. The employers spend more than $1.6 million per day for health coverage for registrants, retirees and their dependents. Registrants and retirees generally have access to dental and vision benefits for themselves and their dependents at little or no cost, as well as employer-paid life insurance coverage. Active registrants receive employee-paid disability coverage. The industry Pension Plan has seen major upgrades in recent years. Currently, the maximum yearly retirement benefit is $79,920 – nearly twice the benefit that was available one decade earlier. In addition, workers have access to a 401(k) savings program and receive a PMA contribution, which can be as much as $2,000 per year for longshore workers and marine clerks, and $11,200 per year for walking bosses and foremen. Registrants also receive 13 paid holidays each year, and up to six weeks of paid vacation. Other worker benefits include a pay guar- antee plan, an industry travel system, a CFS program fund and payments for up to 85% of the expenses of the jointly operated dispatch halls. The graphs to the right show the total benefits costs for the industry, which were $1.29 billion for the fiscal year ending June 30, 2013, up 244% since 2002, and the cost per active participant of $93,200 for the same period, which increased by 159% since 2002. For information on specific benefits that comprise this overall program, please turn to the following pages. Industry Benefits T he ILWU benefits package includes comprehensive health care coverage, a pension plan, a 401(k) savings plan, and vacation and holiday pay. Following is an overview of the benefits program; more information may be found at the PMA website (www.pmanet.org) or through the ILWU-PMA Benefit Plans Office, funded by the PMA. 38 2 0 1 3 A N N U A L R E P O R T 2013 An MOL vessel calls at the Port of Seattle.