SERMA Overview:
Sheltered Employee Retirement Medical Account (SERMA) is a Health Reimbursement Arrangement (HRA) plan established for employees hired prior to January 1, 2014. Intel contracts administration of the program to Businessolver. It is governed by the Intel Retiree Medical Plan (IRMP) and Sheltered Employee Retirement Medical Account (SERMA) Summary Plan Description (SPD)
- Summary Plan Description (SPD): Governing document contains detailed program information
- My Choice Brochure: Instructions for using SERMA to pay providers (other than IRMP & COBRA)
- SERMA Frequently Asked Questions (FAQs in the following indexed categories):
- Access to SERMA & IRMP Webinar
- How to Pay a Provider
- How to Reimburse Yourself
- COBRA
- IRMP
- Adding a Bank Account
- Submitted Claims
- Technical Help
- Claim Processing
- Personal Information
- Call the Intel Health Benefits Center at (877-466-9236), Monday – Friday, 7:00 a.m.-5:00 p.m. (Pacific), and ask for a representative for assistance with SERMA
SERMA Training Aid Videos by Businessolver:
- Paying Premiums through Direct Bill (<9minutes)
Key Attributes:
- The SERMA plan year runs from January 1st through December 31st of each year. You may submit for premiums incurred during these dates as long as you file your claim after your coverage began and before the run-out period ends, which is May 31st of the following year. So, the farthest back you can submit would be January 1 of the previous year
- SERMA reimburses retirees for eligible medical insurance premium expenses for you, your qualified dependents, and your spouse/domestic partner until the balance is exhausted
- The fund is established at the time you retire (45-60 days) and there are no additional funds, except small T-Bill interest rate adjustments each year
- There is an “Opt-Out” option for eligible retirees who want to take advantage of Federal subsidies through the ACA Exchange. See SERMA & Federal Government Subsidies for Health Care for details. Must call Intel Health Benefits at (877-466-9236) to “Opt Back In”
- There is no cash value. SERMA is a Health Reimbursement Arrangement (HRA) and is not taxable income; no W2 or 1099 is issued.
- Your SERMA is forfeited if the account has not been used after 20 consecutive years
- SERMA is terminated when you or your eligible dependents die (see SPD for details)