IU offers three types of accounts that let you set aside tax-free money for health care or dependent care expenses.
Savings programs that reduce your annual taxable income
Health savings account (HSA)
IU offers three types of accounts that let you set aside tax-free money for health care or dependent care expenses.
Flexible spending account (FSA)
Set aside tax-free money from your paycheck for healthcare or dependent care expenses. You make all contributions to the accounts.
Open enrollment and benefit changes
You have the opportunity to change your benefits and add or remove dependents during the Open Enrollment period, which takes place in the fall every year.
At other times of the year, there are some changes you can make if you have a qualifying life event, such as marriage/divorce, birth of a child, or you become eligible for Medicaid/Medicare. You can also enroll in or change your HSA at any time during the year.
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