RETIREE HEALTH ACCOUNTS

Retiree health accounts are benefit plans that help individuals and their families pay for health care costs in retirement. When we administer your plan, you can offer beneficiaries online claims status and account management as well as direct deposit of their reimbursements for eligible medical expenses.

With retiree health accounts, you can offer or sustain a valued benefit on financial terms that make sense for your organization. We are experienced in retiree solutions for private- and public-sector employers.

Why choose Optum for retiree health accounts?

• We’re experts. We understand the complex financial needs of private- and public-sector employers. Today, we administer more than 2 million health accounts for active employees and retirees.
• We’re trusted. Thousands of employers have selected Optum Financial Services to provide health care accounts to their employees and retirees. We can help you, too.

Features

Design a plan that works for you.

We administer retiree accounts under the terms of the plan you design with your benefits consultant or broker. With retiree programs, you have options to design plans with features like: 

• No age restrictions. Eligible employees can take distributions from their accounts to pay for eligible medical expenses at any time following retirement, regardless of age.
• Premium payments can be covered. Employees can use their funds to pay for eligible health plan premiums, such as Medigap coverage.
• Survivor protection. Ensure funds are transferred to a surviving spouse or dependents to pay for medical expenses if an employee or retiree dies.
• Tax savings. Employees may enjoy tax advantages while still working and income-tax free distributions following retirement.

Benefits

Optum retiree health accounts can help you:

• Cut costs. Save on administration costs. We manage and process all claims and reimbursements.  
• Protect yourself. Limit your contributions to reduce your financial exposure to future medical inflation.
• Beef up your benefits. Attract the best and the brightest with a smart, valued benefits package that your competitors may not offer.

Contact us today

Call 1-866-427-6804 or e-mail engage@optum.com to reach an employer relations representative.

This communication is not intended as legal or tax advice. Please contact a competent legal or tax professional for personal advice on eligibility, tax treatment and restrictions. Federal and state laws and regulations are subject to change.