Retiree Healthcare Savings Plan:
A tax-advantaged way to save now for health care costs during retirement
Eligibility:
Dickinson makes employer contributions for full-time employees upon the age of 35 with at least one year of full-time service in the amount of $260.00 annually.
The employer contribution is made to the Retiree Healthcare Reimbursement Benefit Account at TIAA. This plan is administered by a third-party administrator.
Additionally, employees, who are 21 years of age or older, have the opportunity to save even more by making personal contributions on an after-tax basis. Earnings are tax free as long as the funds are used to pay for qualified healthcare costs.
蘑菇视频 Retiree Healthcare Savings Plan Details
How it works
A tax-advantaged retirement healthcare account
Money is set aside now to help pay retiree healthcare costs in retirement:
- funded with tax-free employer contributions and after-tax employee contributions.
- no annual contribution limits
- automatic enrollment
A tax-free reimbursement benefit
Upon retirement, money in your account can be used for a variety of Qualified Medical Expenses (QME), such as:
- health insurance premiums
- copayments and deductibles
- prescription drugs
- other expenses as defined by the Internal Revenue Service
TIAA Retiree Healthcare Savings Plan: Retiree Guide
Did you miss the October 22 Webinar posted by TIAA to learn about the TIAA transition for this benefit? If so, click the webinar registration-access link below to view the recorded webinar:
Claims
As of Tuesday, October 22, 2024, active retiree participants may use the link below to mail in a claim for reimbursement of QMEs to Optum Financial:
Optum Financial Manual Claims Form*
*Please note: the mailing address for manual claims has changed to:
Claims Service Center
PO Box 1000
Allen Park MI 48101-9998