October 7, 2020
Benefits highlight: Health savings accounts
October is open enrollment for health insurance. During this time, you are able to make decisions on your medical coverage for 2021. A health savings account, known as an HSA, can be an important component of your overall medical coverage plan.
If you enroll in Plan C or Plan N, qualify for a health savings account and choose to enroll in the HSA, you'll receive funding from Kansas State University to help pay for your medical, dental, vision and other qualified medical expenses.
Benefits of an HSA include tax-advantaged contributions, savings and distributions for qualified medical expenses. You own the HSA account, the money in the account rolls over each calendar year, and the money is yours to use for qualified medical expenses even after you leave employment.