Who is Eligible for Benefits?
You are eligible for benefits from the Security Benefit
Fund at any time, provided you have a properly documented
claim for benefits (as described below) and that you have a
balance in your account upon receipt of your application.
Contributions to your account become available to you
after they have been posted to your account each quarter.
Benefits paid to you from your account are deducted from
your balance on the date paid. The amount of benefits
available to you is limited to the balance in your account
at the end of your last quarterly statement balance less any
payments made since that date.
If your balance on your March 31 statement is $13,000
and on May 15 you withdraw a benefit of 6,000
the balance now available for benefits is $ 7,000
Contributions are added to your account only when your
quarterly statement is issued.
How Long is a Claim Eligible for Reimbursement?
Generally, your Security Benefit Fund will accept a
properly documented claim for benefits for dates of service
up to one year old.
What Happens if I Donít Have a Sufficient Balance to
Cover my Claim?
If, at the time your application is received, your claim
is for an amount greater than your account balance, you will
only receive reimbursement for up to your account balance.
If your account balance is $7,000
and you submit a claim totaling 8,500
the amount of your reimbursement will be $7,000
If additional contributions are subsequently received,
you may resubmit your claim for further reimbursement.
However, if at the time you apply for a supplementary
vacation benefit or severance benefit you are unable to
receive the maximum amount allowed, you may NOT apply for an
additional amount at a later date.
What Kind of Documentation Must I Submit with my Claim
Most claims require documentation to support the services
provided and certain types of claims must be confirmed with
the provider of the services before payment can be made. The
Fund Office does need a reasonable period of time to
properly review your claim and process it for payment.
Benefit checks are generally processed twice each week.