Regular Carry-Over Earnings Threshold Increasing to $160,000

Effective with benefit periods beginning on or after January 1, 2025, the carry-over threshold and the amount of banked earnings required for a year of Carry-Over Coverage increases from $150,000 to $160,000. The carry-over bank amount remains unchanged at a maximum of $510,000.

Under the new threshold, you will be able to bank covered earnings in excess of $160,000 (up to a maximum of $510,000) for use during periods in which you do not meet the minimum earnings threshold for Earned Coverage. During such periods, $160,000 in Carry-Over Credit is needed to grant one year of Carry-Over Coverage.

For more information regarding Carry-Over Coverage, please refer to the March 2020 Health Plan Summary Plan Description, Section 2(a) Carry-Over Credit, on pages 10-11.

If you have questions regarding this information, contact Participant Services at (323) 866-2200, Ext. 401.