Financial Aid Guidelines - SAA Health Insurance and Related Information

SAA Health Insurance Planning Practices – 5610


SAA Health Insurance Planning Practices – 5610

Financial Policy: N/A
Related Policies: N/A
Additional Forms: N/A

Things to Know:

As you prepare budgets for financial aid, plan on appropriate SAA Health Insurance premium charges which are described below.

SAA Health Insurance Planning Practices: 

  • The student’s fellowship or academic appointment salary is charged to a non-general funded account, and that student qualifies for SAA Health Insurance. It is recommended that you plan for all expenses associated with fellowships or academic appointments that your unit provides to graduate students, including costs related to SAA Health Insurance.
  • That account will be charged for up to 100% of the institutional SAA health insurance premium. These premium charges are billed proportionally to all accounts that fund a student’s fellowship(s) or academic appointment salary.
  • Example: - If a student is receiving only one fellowship for $3,000/semester from a 26- account (e.g. IU Foundation funded), no SAA Health Insurance charges will be charged to the non-general account because the fellowship is below the $3,231 minimum.  However, if the student receives an additional fellowship from a different 26- account in a different school/department and that fellowship is $500/semester. This results in a total of $3,500 in fellowship funding for the student. As a result, the student qualifies for SAA Health Insurance and both 26- accounts will be charged a proportion of the costs for the insurance premium.
  • Units may move the insurance premium expense to a general fund account to be covered if extra funds are needed. You may use either the DI or GEC to distribute the expense.
  • Non-IU fellowship funding should be made payable to Indiana University and sent to the Office of the Bursar. Any health insurance premium costs will be deducted from the external fellowship funds before the remainder is disbursed to the student.
  • Please contact the Office of Student Financial Assistance (OSFA), for questions.