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.

Savings

Help your employees retire with confidence

A Retirement Healthcare Plan (RHP) can help your employees take the worry out of paying for healthcare costs in retirement.

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Incorporating retirement healthcare into your total benefits spend can provide better outcomes

Frequently asked questions

The RHP is a defined contribution retiree healthcare savings plan that complements your retirement plan to provide tax-free savings for your employees' healthcare expenses in retirement.

An RHP 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 RHP 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 RHP to meet your needs. We'll provide sample documents to help you establish the RHP and the underlying trust that will hold the assets, including:

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

And our client service teams will work together to help deliver a seamless experience for you and your employees.

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

An RHP enhances your overall retirement benefits package and can aid in the recruitment, retention and timely retirement of your employees.

2. Why there's reason to be concerned about employees' ability to pay for healthcare expenses in retirement?

Healthcare in retirement is expensive. On average, a 65 year old couple will need $318,000 to have a 90% chance to pay for their out of pocket medical costs throughout retirement.2

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

An RHP plan can be designed to replace legacy retiree healthcare benefits and help stabilize benefit costs.

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 Any guarantees under annuities issued by TIAA are subject to TIAA’s claims-paying ability.

2 Projected Savings Medicare Beneficiaries Need for Health Expenses Remained High in 2022, EBRI Issue Brief No. 580, February 9, 2023

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 Trust, N.A. 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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