PAY FOR FUTURE HEALTH CARE VantageCare RHS PROGRAM Date: - - PowerPoint PPT Presentation
PAY FOR FUTURE HEALTH CARE VantageCare RHS PROGRAM Date: Presented by: AC: 29104-0916-8498-W1175/W1176 This presentation is the property of ICMA-RC and may not be reproduced or redistributed in any manner without permission. HEALTH CARE COSTS
VantageCare RHS PROGRAM
Date: Presented by: AC: 29104-0916-8498-W1175/W1176 This presentation is the property of ICMA-RC and may not be reproduced or redistributed in any manner without permission.
1 Source: Kaiser Family Foundation, http://kff.org/health-costs/
More than worker wages and inflation1 Likely to be a big ongoing expense in retirement….How will you pay for it?
1 Source: “Amount of Savings Needed for Health Expenses for People Eligible for Medicare”,
Employee Benefits Research Institute (Oct. 2015). References 2012 data for Medicare beneficiaries age 65 and older.
Medicare pays for only about
1.
Premiums
2.
Copayments & Coinsurance
3.
Deductibles And Medicare doesn’t cover most dental, hearing, vision, and long-term care expenses
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Helps you pay for future health-care costs Covers you, your spouse, and dependents Tax advantages Sponsored by your employer, administered by ICMA-RC
CONTRIBUTIONS
Your employer determines who contributes
INVESTMENTS
You control, choosing from available funds
REIMBURSEMENTS
You request, for qualifying health expenses
AFTER YOUR DEATH
Assets may transfer to eligible survivors
EARNINGS
build up tax-deferred
EARNINGS
build up tax-deferred
EARNINGS
build up tax-deferred
PRE-TAX CONTRIBUTIONS PRE-TAX CONTRIBUTIONS PRE-TAX CONTRIBUTIONS
Withdrawals for qualifying expenses are TAX-FREE
I want to build my own portfolio – choose individual stock and bond funds I want a simple, yet diversified portfolio – choose a target-date
Request reimbursements – you, or eligible survivors, must…
* Examples of typical RHS plan rules. Actual plan rules may differ based on employer-determined provisions.
Be eligible for benefits*
Separated from service
Reached retirement age
Disabled
Have qualifying benefits*
Medical, Dental, Vision Insurance Premiums
Medical Out-of-Pocket Expenses
Medicare Part B/D Premiums
Submit necessary forms, supporting documents
Learn more about RHS – www.icmarc.org/rhs Your ICMA-RC REPRESENTATIVE Claims questions – MERITAIN HEALTH Manage your RHS account online –
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