This website is intended for institutional retirement plan sponsors and their consultants, registered investment advisers, and other related businesses. If you are looking for individual services, please visit TIAA.org.

Retirement healthcare

Help your employees retire with confidence

A retirement healthcare plan can help your employees take the worry out of paying for healthcare costs in retirement.

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Incorporating retirement

Frequently asked questions

The TIAA retirement healthcare program (RHP) is a defined contribution retiree healthcare savings plan that complements your pension plan to provide tax-free savings for your employee's healthcare expenses in retirement.

A retiree healthcare savings plan offers completely tax-free savings for healthcare expenses in retirement; employer contributions, investment earnings and distributions are tax-free for your retirees.

Retirees can access the retirement healthcare savings plan tax-free to pay for health plan premiums, Medicare Parts A, B, C, D, Medigap premiums, COBRA, prescription drugs, dental, vision, hearing aids as well as  all copays, deductibles and other eligible out-of-pocket medical expenses.

TIAA Health Solutions will provide subject matter expertise, guidance and direction to assist your organization in the design of your retirement healthcare savings plan to meet your needs. In addition, TIAA Health Solutions will provide the following key documents necessary to establish a retiree health savings plan and the underlying trust to hold the asssets.

  • Draft Plan Document
  • Draft Summary Plan Description
  • Draft Trust Agreement

TIAA's client service teams will collaborate to deliver a seamless plan sponsor and participant experience.

1. Are your benefits competitive enough to meet your workforce management objectives?

A retiree healthcare savings plan enhances your overall retirement benefits package and aids in the recruitment, retention and timely retirement of your employees.

2. Are you concerned with your employee's ability to pay for healthcare expenses in retirement?

86% of plan sponsors are concerned with their employees ability to pay for healthcare expenses throughout retirement.2

On average, a 65 year old couple will need $296,000 to have a 90% chance to pay for their out of pocket medical costs throughout retirement.1

3. Do you have employees that are entitled to legacy retiree healthcare benefits?

A retiree healthcare savings plan can be designed to replace legacy retiree healthcare benefits and stablilize benefit costs.

Resources

We're here to help

Thought leadership

Read the study results on challenges facing higher education institutions that provide retiree health benefits.

Medicare fundamentals

Explore how Medicare benefits play an important role in retirement readiness.

Retirement healthcare calculator

Read a report on the challenges facing higher education institutions that provide retiree health benefits.

Contact us

Plan sponsors

Call your TIAA relationship manager or call the administrator telephone center.

Weekdays, 8 a.m. − 8 p.m. (ET)

Consultants

We're here to help you serve your clients and expand your business.

1 Projected Savings Medicare Beneficiaries Need for Health Expenses Spike in 2021. EBRI Issue Brief No.549 January 13, 2022

2 TIAA Retirement Insights Survey, November 2020

This material is for informational or educational purposes only and does not constitute investment advice under ERISA. This material does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on the investor's own objectives and circumstances.

Interests in any retiree healthcare plan discussed herein are offered solely by the employer.

Teachers Insurance and Annuity Association of America (TIAA) will provide services to the plan and may issue plan communications on behalf of the plan sponsor, in its capacity as a plan record-keeper.

TIAA, FSB provides investment management, custody and trust services.

TIAA products may be subject to market and other risk factors. See the applicable product literature, or visit TIAA.org for details. Investment, insurance, and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.

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