Planning For The Future And Help When You Get There.
Retiree medical trusts leverage the power of pooled financing, providing a monthly benefit to retirees that helps defray the cost of medical expenses after retirement. These programs are structured to enable financing with tax-deductible monthly contributions during active employment. Funds are then used for qualified medical expenditures upon retirement. No taxes are due on these reimbursements. These funds cannot, by law, return to the employer and must be spent on medical reimbursement benefits.
Our SIMON products and administrative solutions support the complexities of managing retiree expenses and claims. Our unique user experience lets retirees easily and intuitively initiate claims.
Active participants can calculate their estimated monthly benefit amount at retirement, view their current contribution details, and track their Active Service Units (ASUs). Employers can manage eligibility, view monthly bills, and pay invoices online.
Vimly Benefit Solutions offers two types of tax-favored retiree medical trusts:
- Premium Reimbursement: reimburses the retiree for premiums (e.g., health insurance, dental insurance, Medicare supplement policies, long-term care, vision, prescription drug policies, and more).
- Medical Expense Reimbursement: reimburses the retiree for qualified medical expenses (e.g., eyeglasses, deductibles, drugs, and more).