Is there any reason that I wouldn’t be able to enroll and contribute funds to a 2025 Health Savings Account (HSA)?
The IRS has set qualifying requirements to enroll in a health savings account, such as:
What is a HSA catch-up contribution?
Similar to IRAs and 401Ks, enrollees ages 55 and over can elect to make catch-up contributions of $1,000 above the IRS limit for individual and family plans.
Will Kent State contribute to the 2025 Health Savings Account (HSA)?
Yes, Kent State will again contribute $1,300 for a single high-deductible medical plan or $2,000 for a family high-deductible medical plan. For 2025, the IRS maximum TOTAL contribution limit is $4,300 for a single high-deductible medical plan and $8,550 for a family high-deductible medical plan. The employer contribution will be posted to your PNC HSA account 2-3 business days after your first pay date in 2025.
2025 HSA Contribution Limits
How do Health Savings Accounts work?
The Health Savings Account allows you to put money aside and withdraw it, tax-free, as long as you use it for qualified medical expenses like deductibles and copays. The IRS allows for $4,300 to be contributed to a Health Savings Account for single coverage and $8,550 for family coverage. Kent State will contribute $1,300 dollars towards the Health Savings Account for employees enrolling in single coverage and $2,000 for enrolling in family coverage, and those dollars are yours to keep.
HSA and FSA Comparison
| Consideration | HSA (Health Savings Account) | FSA (Flexible Spending Account) |
|---|---|---|
| Eligibility | Must enroll in a High Deductible Health Plan | Must be enrolled in a PPO Plan for Health Care FSA |
The School of Theatre and Dance’s theatre troupe, Transforum Theatre spent the end of their summer break performing at the Edinburgh Festival Fringe in Scotland. Transforum Theatre was founded in 2014 to give theatre students more opportunities to grow their skills, create new original works and expand their understanding of the world of theatre....
If I opt out of coverage through Kent State, then lose insurance, what then?
If you opt out and lose insurance coverage during the plan year, you can enroll in Kent State's plans under a Qualifying Event. Contact us at benefits@kent.edu within 31 days of the qualifying event to enroll or make any necessary changes to your benefits.
I have other insurance. Can I opt out of Kent State coverage?
Sometimes employees have other insurance through their parents or a spouse/domestic partner. If you have other insurance, you are welcome to opt out of university coverage, and you might even be eligible for opt-out incentive payments of $50 per pay (up to $100 per month).