The Board of Trustees is comprised of six individuals who are responsible for making sure your benefit dollars are spent wisely. When making decisions, they must consider the needs of all Plan participants.
The Trustees oversee all aspects of the ASEA Health Trust. This includes designing benefits, administering claims, judging appeals, complying with IRS and other regulations and managing Trust Fund investments. New Trustees receive training that prepares them to take on these serious fiduciary responsibilities.
- Make decisions in the exclusive interest of participants and beneficiaries, and in accordance with Plan documents
- Oversee the administration of benefit plans for eligible participants and their beneficiaries and pay the reasonable expenses of administering the Plan
- Act in a manner which reflects care, skill, prudence and diligence, resembling how someone in a similar situation would act
- Diversify plan investments to minimize risk, unless it is prudent to do otherwise
- Follow stringent Federal rules, but at the same time, build trust and confidence among Plan participants by focusing on quality of benefits and Plan integrity.
The Board of Trustees for the ASEA/AFSCME Local 52 Health Benefits Trust is a unilateral board of volunteers, with no employer representatives. Each of the six individuals on the Board is elected to the position by Union members from his or her respective region.
In order to be elected, all Trustees:
- Must be ASEA/AFSCME Local 52 members and employees of the State of Alaska
- Live in and represent different regions of the state
- Are covered by the same Health Plan as the ASEA Health Trust participants
- Receive training on their fiduciary duties and health care issues
- Are not paid for their work as Trustees
The Board of Trustees is a legal entity, separate from ASEA/AFSCME Local 52. While Trustees are members of ASEA/AFSCME Local 52 and may also serve the Union in other capacities, the duties of a Trustee must be carried out independent of the business of the Union. The ASEA Health Trust exists solely to provide benefits to the Plan participants. The Trustee’s duty is to act only in the exclusive interest of the Plan participants.
The Board of Trustees work to ensure that the State's and participants' contributions will be enough to pay for the coverage offered under the Plan. If contributions do not match expenses, the Trustees work with the Contract Negotiating Committee to bargain for an increase in the employer contribution amount, or they adjust the benefits and/or employee contributions to match expense.