Defined Dollar Credit

Defined Dollar Credit  


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The Institute will provide you and your eligible spouse with a Defined Dollar Credit

The 2023 DDC will be increasing by 3%.


Your Defined Dollar Credit is a monthly amount intended to help you pay for the cost of your medical coverage, while giving you more flexibility and options for choosing coverage that fits you best. This credit is based on your years of service (up to a maximum of 25+ years) and Medicare eligibility. Since Medicare is your primary coverage, these plans cost less and the defined dollar credit for Medicare-eligible retirees is also less.

You have three ways to participate in the Caltech Retiree Medical Plan:

  • Participate in a Caltech-sponsored plan. You will pay the monthly plan premium (s) less your Defined Dollar Credit.
    If your plan(s) costs more than the amount of your Defined Dollar Credit, you will receive a monthly notice of premium due.

    If your plan(s) costs less than the amount of your Defined Dollar Credit, the extra Defined Dollar Credit will be available to you through a Health Reimbursement Account (HRA). You can use your HRA to pay eligible health care expenses. The HRA is administered by Discovery Benefits (DBI).

  • Have your entire Defined Dollar Credit available to you through a Health Reimbursement Account (HRA).
    Enroll in the HRA and use your Define Dollar Credit to purchase a non-Institute health plan and pay other eligible health care expenses. Any premiums deducted from a paycheck must be paid on an after tax basis to be eligible for reimbursement by the HRA account.

  • Opt out of the Caltech program entirely.
    If you choose to opt out of the Caltech Retiree Medical Plan, you will not receive a Defined Dollar Credit. (To receive your Defined Dollar Credit, you must enroll in an Institute-sponsored medical plan or HRA.) If you do not enroll in the Caltech Retiree Medical Plan within two years after your retirement date, and you do not have other continuous medical coverage (other than Medicare), you waive your right to participate in the Caltech Retiree Medical Plan.
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