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How to use your Defined Dollar Credit
1 Use your Defined Dollar Credit to pay for an Institute- sponsored medical, dental and/or vision plan for you and your eligible dependents.
If your plan(s) costs less than the amount of your Defined Dollar Credit (DDC), the remainder will be available to you through a Health Reimbursement Account (HRA). You can use your HRA to pay eligible health care expenses. If your plan(s) costs more than the amount of your DDC, you will receive a monthly invoice.
A plan administrative fee of $13.40 is included in the Caltech sponsored Kaiser and Aetna Health Plan monthly premium rate.
2 Have your entire Defined Dollar Credit available to you through an HRA.
Enroll in the HRA and use your DDC to purchase a non-Caltech health plan and be reimbursed for other eligible health care expenses.
Premiums deducted from a paycheck must be paid for on an after-tax basis to be eligible for reimbursement from the HRA. See page 16 for more information.
A monthly plan administrative fee of $13.40 will be deducted from your HRA.
Life Insurance
The Institute provides retirees with a $5,000 life insurance policy.
You may designate your beneficiary through My Account located on the Caltech website at www.caltechretireebenefits.com or by requesting a beneficiary form by calling the Caltech Retiree Service Center at 1-855-251-0910. Be sure to review and update the contact information for your beneficiaries.
Life insurance claims are processed by the Caltech Retiree Service Center. Please contact them at 1-855-251-0910 to begin the process.
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