Retiree Medical Savings Account

The Retiree Medical Savings Account (RMSA) Plan is a tax-advantaged plan that helps you save for eligible medical premiums and other healthcare expenses you incur after you terminate employment with Amgen. Both you and the company make contributions to your RMSA.

Your After-tax Contributions Amgen’s Credits
  • Up to 50% of your base pay, and/or
  • Up to 80% of any cash payment from any of the following:
    • Global Management Incentive Plan (GMIP)
    • Global Performance Incentive Plan (GPIP)
    • Executive Incentive Program (EIP)
    • Sales incentives paid to salespersons
  • $1,000 each year (whether you elect to make contributions)
  • A company match of 50% (up to $1,500 annually) of any contributions you make to your RMSA each pay period
  • Annual interest credits on the amount the company credits to your account.

While you always are vested in the contributions you make to your RMSA, you may gain access to company credits when you retire from Amgen and incur eligible expenses, or if you become disabled or die, providing you sign, and do not revoke, a general release of claims.

The amounts Amgen credits to your RMSA and their related interest credits are considered notional. Notional credits generally become available only when, as an Amgen retiree who has fulfilled age and years-of-service requirements and signed, and not revoked, a general release of claims, you incur and (where required) submit a reimbursement request for eligible healthcare expenses. Notional credits also become available if you become disabled or die.

The Amgen RMSA Plan offers significant tax benefits. While you make your contributions with after-tax dollars, neither they nor any earnings are taxed upon withdrawal because reimbursements from the RMSA can be made only for eligible medical premiums and other healthcare expenses.

In addition, provided you meet the plan’s definition of retirement, the amounts Amgen credits to your account and the interest related to those credits are available to use tax-free toward eligible expenses.

Note that RMSA contributions can be used only for eligible medical premiums and other healthcare expenses incurred by you or your qualified dependents after you terminate employment with Amgen (for your contributions) or retire from Amgen (for the amount Amgen credits to your account). Amgen’s credits also become available if you become disabled or die, providing you sign, and do not revoke, a general release of claims. Restrictions may apply. Before enrolling in the RMSA, you are encouraged to review the plan information.