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Retiree Healthcare Savings Plan

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.

Ä¢¹½ÊÓƵ 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