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Products May 17, 2004
Aetna Launches Retiree HRA
May 17, 2004 (PLANSPONSOR.com) - Aetna has released
a Health Reimbursement Account (HRA) for use by
retirees.
Reported by Eric Hazard
The Aetna HealthFund Retiree Reimbursement Account (RRA) provides retirees with choice and predictability in funding post-retirement health care expenses. At the same time, it addresses employers’ desire for additional or alternative methods of financing retiree health benefits, Aetna said in a news release.
As the product is structured, employers make contributions to the employee’s account on a regular basis and those funds are then available to reimburse qualified health care expenses in retirement. The Aetna HealthFund RRA has no age limits around contributions, so employers may choose to continue making contributions even after employees reach retirement.
The RRA joins the suite of retiree products Aetna currently offers, including medical benefits plans that coordinate with Medicare, Medicare Advantage plans for individuals and employer groups, as well as pharmacy products, including the new Medicare-approved drug discount card, the Aetna Rx Savings Card.