If you enroll in the CDHP plan, you will also become eligible for a Health Savings Account.
Health Savings Accounts (HSA's) provide a tax-advantage method to pay for eligible medical expenses such as deductibles and coinsurance. You own and control the money in your HSA; you decide how and when to use the money to pay for Eligible Medical Expenses or save it for fuure needs. Your HSA is portable; you take it with you if you leave the plan or college. The Internal Revenue Service sets contribution limits annually for HSA's. Each calendar year FSA’s are terminated on December 31st. You must renew this benefit annually.
To be eligible for the Oberlin College HSA quarterly contribution amounts, you must participate in a Biometric Screening and complete the online Health Risk Assessment (HRA) within 31 days of the date of coverage.To receive the HSA Incentive amount you must complete additional annual requirements.
For detailed information, please review the Summary of Benefits and Coverage (SBC).