About the Program
The Emeriti® Program is designed by the higher education community for the higher education community to help you defray the high cost of health care in retirement. Offered through your institution, the Emeriti Program provides a comprehensive package of retiree health care benefits for you and your eligible dependents
The Three Core Components of the Program for Individuals Include:
The Emeriti Health Accounts, established through contributions from your institution and voluntary contributions by you, offers a tax-advantaged way to invest and accumulate assets now to pay for health care expenses in retirement. Investment choices and administrative services provided by Fidelity Investments®.
The Emeriti Health Insurance Plan Options offer a choice of portable, group health insurance options for you and your dependents whenever you decide to retire. The post-65 options all complement Medicare and include Medicare-approved Part D coverage. Your institution may also have adopted Emeriti’s pre-65 retiree coverage, which provides a bridge between your working years and Medicare eligibility. Insurance underwritten by Aetna Life Insurance Company1.
The Emeriti Reimbursement Benefit, which acts like a lifetime flexible spending account, enables you to use assets from your Emeriti Health Accounts tax free to pay for qualified out-of-pocket medical expenses not covered by Medicare or other insurance. Services administered by Acclaris Inc.
The Program is designed to meet the needs of an institution without any retiree health program, or it can replace an existing plan. Each Consortium member designs a distinctive Plan to meet its cultural and financial needs. The Program offers institutions a financially sustainable solution that addresses employees’ concerns about the rising costs of health care, without creating accounting liabilities.
Emeriti’s products and services are delivered in collaboration with Fidelity Investments, Aetna Life Insurance Company, and HealthPartners.
1Aetna provides comprehensive coverage, including medical and prescription drug benefits, in 48 states and the District of Columbia. Aetna will also provide stand-alone prescription drug coverage in all 50 states and the District of Columbia. HealthPartners will provide comprehensive coverage for Minnesota institutions and their retirees residing in Minnesota. Emeriti will select a provider for New Mexico institutions. Please call an Emeriti Specialist from Aetna at 1-866-EMERITI (1-866-363-7484) if you have questions.
