What type of insurance plan is HSA-eligible?
The policy must be a High Deductible Health Plan(HDHP) with an annual deductible of at least $1,150 for individuals and $2,300 for families. For 2009, your total annual out-of-pocket expenses (money applied to your deductible and your coinsurance for covered charges) must be no more than $5,800 for individuals or $11,600 for families. These amounts are subject to cost-of-living adjustments. If you are unsure whether your health insurance is HSA-eligible, please contact your insurer or tax advisor.[ top ] • Who can open an HSA? Anyone with a High Deductible Health Plan (HDHP) as their primary health insurance plan is eligible to open an HSA. Secondary coverage, such as a spouse’s policy, is not permitted when contributing to an HSA. The only groups not eligible are individuals entitled to Medicare benefits (generally not reached until age 65) or those claimed as a dependent on another person’s tax return. Anyone over the age of 65 who is not enrolled in Medicare can open/contribute to a
The policy must be a High Deductible Health Plan(HDHP) with an annual deductible of at least $1,200 for individuals and $2,400 for families. For 2011, your total annual out-of-pocket expenses (money applied to your deductible and your coinsurance for covered charges) must be no more than $5,950 for individuals or $11,900 for families. These amounts are subject to cost-of-living adjustments. If you are unsure whether your health insurance is HSA-eligible, please contact your insurer or tax advisor.
