As of January 1, 2020, the University of Nebraska is offering an employer-sponsored Health Savings Account (HSA) option. The option offers a tax-advantaged medical savings account for all employees enrolled in the university’s high-deductible health plan. Funds contributed are not subject to federal income tax at the time of deposit. And, unlike flexible spending accounts, funds put into a health savings account roll over and accumulate year to year if not spent.
Funds in the account can be used to pay for qualified medical expenses at any time without federal tax liability or penalty. Any withdrawals for non-medical expenses are subject to taxes/penalties.
For more information, contact Benefits at 402-472-2600.
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