Who is eligible to open and contribute to an HSA?
Federal regulations require you to meet all of the following eligibility requirements in order to open and contribute to an HSA:
- Covered under a qualified high deductible health plan on the first day of the month.
- Not covered by any other health plan, including your spouse’s health insurance.
- Not covered by your own or spouse’s Medical Flexible Spending Account (FSA).
- Not enrolled in any part of Medicare or Tricare.
- Have not received Veteran’s health benefits in the past 90 days.
- Not claimed as a dependent on another person’s tax return.
Please feel free to contact us if you have any questions about HSAs.