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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.

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.

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).

When enrolled in the High Deductible Health Plan, you will be charged the full negotiated price for your prescriptions until your HDHP annual deductible is met, unless those medications are on the Preventative Drug List. Any money paid toward prescriptions will count towards meeting your annual deductible. The prescription co-insurance will apply only after your deductible is met (see below).

• Preventive care is covered 100% with in-network providers
• Lower monthly premiums
• Deductible for in-network providers: $3,300 for single coverage and $5,400 for family coverage.
• No Coinsurance for in-network providers
• No Co-pay
• Opportunity to invest in a Health Savings Account (HSA)
  • Contribution is taken pre-tax
  • Kent State contributes to all employee HSAs:
    • $1,300 for single coverage
    • $2,000 for family coverage
    • available after the first payroll of the year!
  • Funds roll over year-t