Who is eligible for an HSA?
To participate in an HSA, you must be enrolled in a compatible high-deductible health plan (HDHP). You cannot be covered by any other health plan that is not an HDHP, with certain exceptions. You also cannot be enrolled in Medicare, or be eligible to be a dependent on another person’s tax return, or have received VA medical benefits at any time over the past three months. If you have specific questions about your HSA eligibility, ask your benefits administrator or call customer service toll free at 1-866-988-2006.
A person is eligible to make or receive an HSA regular contribution if within any month you: • Are covered under a HDHP* on the first day of the month; • Are not covered under another type of health plan that is not a HDHP (with certain exceptions for plans providing certain limited types of coverage); • Are not entitled to benefits under Medicare (generally, have not reached age 65); and • Are not claimed on another person s tax form as a dependent. *A HDHP plan must have a deductible of at least $1000 for individual coverage or $2,000 for family coverage. These amounts are subject to cost of living adjustments.
To be eligible for an HSA, you must be enrolled in an HDHP, and cannot be covered by any other medical plan that is not an HDHP, with certain exceptions. Additionally, you cannot be enrolled in Medicare or be a dependent on someone else’s tax return. If you have questions about your eligibility, please contact your tax advisor.
Individuals must be covered by a High Deductible Health Plan to be able to take advantage of an HSA. By law, you cannot be covered by another health plan, unless that plan is another High Deductible Health Plan or one that provides specific coverage such as dental or vision. Additionally, to qualify for an HSA, you must not be enrolled in Medicare, or be claimed as a dependent on another person’s tax return.
To be eligible for a Health Savings Account, an individual must be covered by a qualified High Deductible Health Plan (HDHP), must not be covered by other health insurance (does not apply to specific injury insurance and accident, disability, dental care, vision care, long-term care), is not enrolled in Medicare, and can’t be claimed as a dependent on someone else’s tax return.
