Retiree Healthcare Program
TIAA-CREF's Retiree Healthcare Program (RHP) provides a tax-advantaged way for individuals in academic, research, medical and cultural institutions to accumulate funds to pay for qualified medical and health-related expenses in retirement.
If your institution is seeking a way to reduce the unfunded liability of your defined benefit retiree health plan and still provide healthcare benefits for your employees, the TIAA-CREF Retiree Healthcare Program offers a cost-effective solution.
The Retiree Healthcare Program is designed to complement a participant's existing TIAA-CREF retirement plan. You will benefit from seamless plan administration. Your employees will be able to plan holistically for their retirement.
Learn about TIAA-CREF's Retiree Healthcare Program.
ADVANTAGES FOR EMPLOYERS AND EMPLOYEES
The TIAA-CREF Retiree Healthcare Program offers a number of advantages for employers and employees:
- Funding flexibility allows tax-free employer contributions and employee after-tax payroll deductions
- Trust earnings are tax-free
- Reimbursements of qualified healthcare expenses are tax-free
- Eligible employee benefits can be used for a broad range of out-of-pocket health-related expenses, per IRC section 213(d), including private and Medigap insurance premiums, co-payments, deductibles and long-term care insurance
- Accumulated benefits are easy to track, thanks to individual employee notional accounts
- RHP investment choices for retiree health plans include TIAA-CREF Lifecycle Funds and the TIAA-CREF Money Market Fund
- Seamless administration through integration with your TIAA-CREF retirement programs makes it simple to manage the Plan