The Emeriti Retiree Health Care Program provides a vehicle (called and Emeriti Health Account) to save for the cost of health care in retirement, a way to be reimbursed for qualified medical expenses in retirement and offers retiree health insurance options once the participant becomes eligible for Medicare.
Emeriti Retiree Health Care Program
Emeriti Health Program Provider - Emeriti
Emeriti is available to answer any questions you have regarding your Emeriti Health Program over the phone, or online at www.emeritihealth.org.
Ithaca College Contributions
The College makes contributions to the Emeriti Health Account for eligible participants after one year of service in an eligible class, or at age 35, if later. The College will cease making its contributions on the earliest of the following: the date the College has made 25 years of contributions to your account, the date you cease employment at the College, or at your death. The amount of the contribution will be determined by the College.
Your Ability to Make Contributions
Eligible participants can begin to make voluntary contributions to an Emeriti Health Account on a flat dollar basis each payroll period if you are age 21 or older and have one year of eligible service. The amount will be determined by you, and currently there are no limits on the amount you can contribute. Your contributions will be made on an after-tax basis, but all contributions and earnings will accumulate and be paid out tax free for your retiree health insurance and other qualified medical expenses.
If you wish to make contributions to an Emeriti Health Account, please complete this form.
Your Eligibility for Emeriti Benefits
You will be eligible for the Emeriti Health Insurance Plan Options and the Emeriti Reimbursement Benefit if you satisfy the criteria for Retirement Eligibility. You have met these criteria if you have attained age 55 or over while employed by the College with at least 20 years of service in an eligible class or age 60 with at least 10 years of service in an eligible class or if you meet the definition of an Ithaca College retiree. You also satisfy Retirement Eligibility if you become permanently disabled during active service and receive a disability determination letter from Social Security.
Having met the criteria for Retirement Eligibility, you will be able to enroll in the Emeriti Health Insurance following termination of service with the College, attaining age 65, and enrolling in Medicare Part A and B. If your spouse is also age 65 or older and enrolled in Medicare Part A and B, he/she may also enroll when you do in the same Emeriti Health Insurance Plan Option you have elected. If your spouse or eligible children are not Medicare-eligible, they can enroll in Emeriti's pre-65 Health Insurance Plan Option when you enroll. You will also be able to utilize the Emeriti Reimbursement Benefit to pay for any qualified out-of-pocket medical expenses, including other health insurance, after termination with the College. All of the Emeriti Health Account assets from both your Employer's contributions and your own contributions can be used to pay for these benefits.
If you cease employment with the College without having met the College's criteria for Retirement Eligibility, you will not be able to enroll in the Emeriti Health Insurance Plan Options. With respect to tax-free use of the Health Account assets for retirement health expenses, different rules will apply for Employer contributions and your own contributions. If you had not satisfied the College's criteria for Retirement Eligibility, the Health Account assets from Employer Contributions will be forfeited. You will always have the right to use all of your own contributions and earnings, starting at age 55, to pay for qualified out-of-pocket medical expenses, including other health insurance, through the Emeriti Reimbursement Benefit. You may also continue to make personal, after-tax contributions into your Emeriti Health Account after you leave the College or even after you retire.
The Emeriti Reimbursement Benefit
You will be eligible to be reimbursed from the Emeriti Reimbursement Benefit once you satisfy the criteria for Retirement Eligibility and retire from the College. This means you must have attained age 55 and have at least 20 years of benefit-eligible service or age 60 with at least 10 years of benefit-eligible service. You also satisfy Retirement Eligibility if you become permanently disabled during active service and receive a disability determination letter from Social Security.
If you leave the College and do not satisfy the College's criteria for Retirement Eligibility, you will not be entitled to the College’s contribution to your Health Account. Of course, you always have the right to use your own contributions and earnings. You can be reimbursed from your Health Account to pay for qualified out-of-pocket medical expenses, including other health insurance. You may also continue to make personal, after-tax contributions into your Emeriti Health Account after you leave the College or even after you retire.
Please visit the Emeriti website for complete information about the benefit including saving for health care expenses in retirement, how to be reimbursed from your Health Account for qualified medical expenses and what health plan options are available once you retire and are eligible for Medicare.
This is a brief overview of certain key features of the College's Plan. Please consult your Summary Plan Description (SPD) for a more complete explanation of the terms of the Plan and your rights and responsibilities under the Plan. The terms of the Summary Plan Description (SPD) will prevail.