Who is eligible to establish and contribute to an HSA?
A person can establish and contribute to an HSA if that individual is covered under an HSA qualified high deductible health plan. Conversely, individuals are not eligible to establish or contribute to an HSA if they are: • Covered under a health plan that is not a qualified HDHP (for example, coverage on a spouse’s health plan that does not meet the minimum deductible requirements, such as one that has an office visit copay provision that provides coverage before the HDHP deductible is satisfied). • Covered under another comprehensive major medical individual insurance policy that does not qualify as an HDHP. • Covered under a health Flexible Spending Account (FSA) or Health Reimbursement Account (HRA) unless the FSA or HRA is a qualified HDHP or unless coverage under the FSA or HRA is limited to permitted benefits or specific benefits not provided by your high deductible health plan (i.e., dental or vision benefits). • Enrolled in Medicare. • Capable of being claimed as a dependent on
Related Questions
- Are employers who contribute to an employee’s HSA responsible for determining whether the employee is an eligible individual and the employee’s maximum annual contribution limit?
- What happens if I become eligible to contribute to an HSA mid-year (not January 1st)? What is my maximum contribution?
- Can a person contribute to an HSA if he or she is eligible for Medicare Part A and B but is not enrolled?
