Who qualifies for HSAs?
Someone who has a qualified high deductible health plan (HDHP). No other health coverage in place. NOT enrolled in Medicare (can be eligible for Medicare). Can not be claimed as a dependent on someone else’s tax return. Self-employed, partners and S-Corporation shareholders are not generally considered employees and cannot receive pre-tax employer contributions to their Health Savings Accounts. Self-employed can only take an above-the-line deduction for their premium and HSA contribution. Regardless of how the S-Corporation of LLC is structured, the company can not make pre-tax contributions to owners, shareholders, or partners.
