The Kalamazoo College Emeriti Retirement Healthcare Savings Program

Preparing today for a healthier tomorrow

As you get older, healthcare costs are likely to take up a larger portion of your budget, and Medicare may not be enough.* Your institution established the Emeriti Retirement Healthcare Savings Program as a way to help you prepare and pay for your medical expenses in retirement.

The Emeriti Plan complements your retirement program, and it offers a number of tax advantages, both while you are accumulating savings and later when you are retired, including:

• Tax-free employer contributions
• Tax-free investment earnings
• Tax-free reimbursement for qualified medical expenses during retirement

In addition, you have the opportunity to save even more by making your own contributions on an after-tax basis. Any earnings are tax free as long as the money is used to pay for qualified healthcare costs. You will also have access to group health insurance, underwritten by Aetna, when you retire.

How it works

To help you prepare and pay for your medical expenses in retirement, the program provides:

A tax-advantaged retiree healthcare savings account

Money is set aside now to help
you pay your healthcare costs
in retirement:

  • Funded with tax-free employer contributions and after-tax employee contributions
  • No annual contribution limits
  • Automatic enrollment

reimbursement benefit

When you retire, money in your account can be used for a variety of qualified medical expenses, such as:

• Health insurance premiums
• Copayments and deductibles
• Prescription drugs
• Long Term Care and Medicare premiums

Group retiree health insurance

When you become Medicare-eligible, and if you meet your employer’s Emeriti retirement eligibility when you leave the institution, you will be eligible to enroll in group health insurance, underwritten by Aetna. Kalamazoo College retirement eligibility is 10 years of benefits eligible service and you must be age 55+.

Plan features

  • Easy online access to account and investment information
  • Dedicated toll-free customer service center
  • Access to claims representatives
  • Ability to manage recurring claims on line
  • No additional fees when claims are submitted
  • Reimbursement for qualifying expenses of your spouse, domestic partner and other dependents

About the plan

  • Your employer will begin making contributions for you upon commencement of employment and attaining age 35.
  • The amount of the contribution will be determined by your employer annually. The Institution will cease making its contributions on the earliest of the following: the date you cease employment at the Institution, the date of your death during employment.
  • You can begin to make contributions to your Emeriti Health Account at any time. Your voluntary after-tax contributions are always 100% vested.
  • Once you have terminated employment and age 55 with 10 years of continuous service, you may begin accessing your account to pay for qualified medical expenses. If you have not met the program’s vesting requirements for employer contributions, you will only have access to the money you contributed and any earnings attributable to your contributions.
  • After your death, your spouse or domestic partner and eligible dependents may continue to receive reimbursement for their qualified medical expenses. However, if there is no surviving spouse, domestic partner or eligible dependents, any unused benefits, including your own after-tax contributions, will be forfeited.
  • You will also be eligible for the Emeriti Health Insurance Plan Options if you satisfy the criteria for retirement eligibility under the plan: attained age 55 while employed by the Institution with at least 10 years of continuous service or became permanently disabled during active service and received a disability determination letter from Social Security.


If you have any questions or want more information regarding the retirement healthcare program. please call the Emeriti Service center at
866-363-7484 and choose option 2.

Check your Emeriti Retirement Health Account Balance

To check your Emeriti health account balance go to TIAA or call the Emeriti Service Center at l-866-363-7484 and select Option #3.

*, Employee Benefit Research Institute. October 2015, Vol. 36, No. 10.

Subject to the rules of your Summary Plan Description (SPD). your Emeriti Health Account assets are available to pay health insurance premiums and other qualified medical expenses for your life and the lifetime of your eligible dependents. Once you have died and once all your eligible dependents have died (or reached majority. in the case of children). any remaining balance in your Health Account is forfeited back to the Plan for use under the terms of the Plan for other eligible participants of your Institution. This Plan Highlights Sheet is intended to provide you with a brief overview of certain key features of your Institution’s Plan. Please consult your Summary Plan Description (SPD) sent separately to you for a more complete explanation or the terms of the Plan and your rights and responsibilities under the Plan. The terms of the Summary Plan Description (SPD) will prevail.
Emeriti. TIM, CBIZ Retirement Plan Services (CBIZ RPS). Aetna Life Insurance Company. and HealthPartners are independent corporations and are not legally affiliated. The full name of Emeriti Retirement Health Solutions is The Emeriti Consortium for Retirement Health Solutions, an Illinois Nonprofit Corporation. Emeriti Retirement Health Solutions is not an insurance company, insurance broker or insurance provider.
The Emeriti Program is delivered in collaboration with TIAA. CBIZ Retirement Plan Services (CBIZ RPS), Aetna Life Insurance Company. and HealthPartners. CBIZ RPS is Emeriti’s disbursement record keeper for Emeriti group insurance administration and Emeriti medical expense reimbursement processing.
CBIZ RPS is a Philadelphia company with more than forty years of experience in full-service benefits services supporting employees and retirees in organizations nationwide.
Teachers Insurance and Annuity Association of America (TIAA) is Emeriti’s accumulation record keeper, trust services provider. and investment manager. TIAA is based in New York and has nearly one century of distinguished service to the non-profit community for financial services supporting retirement income security.
Aetna Life Insurance Company is the primary health insurer for the Emeriti Program. providing fully insured medical insurance and health-related products. For over 150 years. Aetna has been an innovator in the delivery of insurance solutions and is a nationwide provider of Medicare-approved Part D prescription drug services. For Minnesota institutions and their Minnesota-resident retirees, HealthPartners provides participants with medical insurance and health-related products. HealthPartners is the largest consumer-governed nonprofit health care organization in the nation.