Sec. 39.30.400. Benefits payable from the individual account.
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Sec. 39.30.400. Benefits payable from the individual account.
(a)The administrator may deduct the cost of monthly premiums from the individual account for retiree major medical insurance on behalf of an eligible person who elected retiree major medical insurance under AS 14.25.480 or AS 39.35.880 .
(b)Upon application of an eligible person, the administrator shall reimburse to the eligible person the costs for medical care expenses as defined in 26 U.S.C. 213(d). Reimbursement is limited to the medical expenses of
(1)an eligible member, the spouse of an eligible member, and the dependent children of an eligible member; or
(2)a surviving spouse and the dependent children of an eligible member dependent on the surviving spouse.
(c)When the member's individual account balance is exhausted, the insurance premium deductions under
(a)of this section and the reimbursement of medical care expenses under
(b)of this section end.
(d)If all eligible persons die before exhausting the member's individual account, the account balance shall revert to the plan.