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Wednesday, July 23, 2014

Health care's flexible, affordable answer

Saving for retirement is important, but many people don't take into consideration the rising costs of health care. The MERS Health Care Savings Program is designed to help you prepare for those costs after you leave your employer, with an invested account you manage.

By participating in the MERS Health Care Savings Program, you can save money now while you're working for health care costs that you'll use after you leave your employer, either before or after you've reached retirement. The MERS Health Care Savings Program is an employer-sponsored program that gives you a tax-free medical savings account available for you, your spouse and any legal dependents.

How it works

  • Individual employee accounts designed by you and your employer are invested and grow tax-free. 
  • You and your employer make contributions to your account based on the provisions your municipality has adopted. 
  • You can also make contributions to your account on a voluntary, post-tax basis. 
  • The MERS Health Care Savings Program is an invested account, meaning you take an active role in determining your financial goals, making investment choices, and monitoring your portfolio.
  • When you separate from your employer, you can use the account for tax-free medical expense reimbursements. You must be vested at termination to withdraw your employer's contributions.
  • You select from the streamlined MERS Investment Menu. For more information, please read Understanding the MERS Investment Menu.

View the MERS Investment Menu

Click here to see the streamlined MERS HCSP Investment Menu.

Find Forms

Want to change your investments, or your named beneficiary? Click here to find your form.

Leaving Your Employer?

Find out when you'll be able to access your account.  Here's how to start.

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Disclaimer
The information contained in this Web site is being made available as a public service. The information is not intended to constitute legal or investment advice, or to replace official versions of that information. Benefit Estimates or Service Credit Purchase estimates requested through this Web site are not official descriptions of any benefits, and do not represent a promise by MERS to provide any benefit(s) to any person(s). No one can detrimentally rely upon the information provided in, or requested through this Web site. MERS reserves the right to correct any errors, and presents this information without warranties, express or implied, regarding the information?s accuracy, timeliness or completeness. If you believe the information is inaccurate, out-of-date, or incomplete, or if you have problems accessing or reading the information, please call MERS at 800.767.MERS (6377).