For those that unfortunately are getting cut and that used Ascension's retirement plan, what will happen with your Ascension Retirement Health Reimbursement Arrangement (HRA) funds? I had the understanding that funds in that account were to be used for health expenses after retiring from Ascension, so does all of that money vanish?
6 replies (most recent on top)
Just like the other posters said it disappears unless you are over 55 when you leave Ascension.
If you under 55, you don't get a dime of that money. You get the money Ascension contributed and the money you contributed. But not the Healthcare Reimbursement unless you are 55 or older. That is how it worked for those of us that got dumped by Ascension last year.
I believe the requirement for keeping the money in the "Ascension Retirement Health Reimbursement Arrangement" which Transamerica holds is you have to have 5 years of service with Ascension OR 5 years of service with Ascension AND a ministry that they purchased. Not sure about the 55 years of age part though although I would think that you would keep it if you met the 5 years of service requirement but you may not get to use it until you get to age 55...
I believe to 2 replies are not addressing the retirement health funds. The one in the retirement is forfeited unless you are 55. You can confirm with Transamerica but that is what they said.
I lost my job in 2018 and was able to use the hra to pay cobra premiums until the balance was exhausted.
No,it doesn’t disappear. The a lance is linked to,your fsa card. I left three year’s ago and just finished m balance off.