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Who qualifies insurance plans as HSA compatible?

April 26, 2017compatible HSA Insurance plans qualifies

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Who qualifies insurance plans as HSA compatible?

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The carrier is responsible for determining whether or not a plan meets the requirements for a qualified HDHP that is HSA compatible. Before a carrier can sell a plan, they must file the plan with the state. The state reviews the plan to verify that it includes all coverage mandated by the state. Then the plan is approved for sale. Since HSA compatibility is a federal program, the states do not have jurisdiction over this determination.