September 21, 2016
16-14
VEBA Update

This death benefit, while available, is limited to the pilot’s spouse or eligible dependent(s). It was previously communicated that upon your death and the death of your spouse, amounts remaining in your VEBA account up to $50,000 could be paid to a designated beneficiary. Further research has uncovered an IRS ruling that prohibits a death benefit in conjunction with a Health Reimbursement Account or VEBA to a beneficiary other than your spouse or eligible dependents.