Who Can Have an HSA?______________________________-HSA
Learning Center
__________________________________________
Who
is eligible for a Health Savings Account?
Can I get an HSA
even if I have other insurance that pays medical
bills?
Does the HDHP policy
have to be in my name to open an HSA?
I don't have health
insurance, can I get an HSA?
I'm on Medicare,
can I have an HSA?
I am a Veteran,
can I have an HSA?
My employer offers
an FSA, can I have both an FSA and an HSA?
My employer offers
an HRA, can I have both and HRA and an HSA?
My Spouse has an
FSA or HRA through their employer, can I have HSA?
I don't have a
job, can I have HSA?
Does my income
affect whether I can have an HSA?
Can I start an
HSA for my child?
I'm a single parent
with HDHP coverage but have child/relative that
can be claimed as a dependent
for tax purposes, and this dependent also has non-HDHP
coverage. am I still eligible for an HSA?
Who is
eligible for a Health Savings Account?
To be eligible for a Health Savings Account, an
individual must be covered by a HSA-qualified High
Deductible Health Plan (HDHP) and must not be covered
by other health insurance that is not an HDHP.
Certain types of insurance are not considered health
insurance (see below) and will not jeopardize your
eligibility for an HSA.
Can
I get an HSA even if I have other insurance that
pays medical bills?
You are only allowed to have auto, dental, vision,
disability and long-term care insurance at the same
time as an HDHP. You may also have coverage
for a specific disease or illness as long as it
pays a specific dollar amount when the policy is
triggered. Wellness programs offered by your employer
are also permitted if they do not pay significant
medical benefits.
Does
the HDHP policy have to be in my name to open an
HSA?
No, the policy does not have to be in your name.
As long as you have coverage under the HDHP policy,
you can be eligible for an HSA (assuming you meet
the other eligibility requirements for contributing
to an HSA). You can still be eligible for an HSA
even if the policy is in your spouses name.
I
don’t have health insurance, can I get an
HSA?
You cannot establish and contribute to an HSA unless
you have coverage under a HDHP.
I’m
on Medicare, can I have an HSA?
You are not eligible for an HSA after you have enrolled
in Medicare. If you had an HSA before you
enrolled in Medicare, you can keep it. However,
you cannot continue to make contributions to an
HSA after you enroll in Medicare.
^
TOP
I
am a Veteran, can I have an HSA?
If you have received any health benefits from the
Veterans Administration or one of their facilities,
including prescription drugs, in the last three
months, you are not eligible for an HSA.
I’m
active-duty military and have Tricare coverage,
can I have an HSA?
At this time, Tricare does not offer an HDHP options
so you are not eligible for an HSA.
My
employer offers an FSA, can I have both an FSA and
an HSA?
You can have both types of accounts, but only under
certain circumstances. General Flexible Spending
Arrangements (FSAs) will probably make you ineligible
for an HSA. If your employer offers a limited
purpose (limited to dental, vision or preventive
care) or post-deductible (pay for medical expenses
after the plan deductible is met) FSA, then you
can still be eligible for an HSA.
My
employer offers an HRA, can I have both an HRA and
an HSA?
You can have both types of accounts, but only under
certain circumstances. General Health Reimbursement
Arrangements (HRAs) will probably make you ineligible
for an HSA. If your employer offers a limited
purpose (limited to dental, vision or preventive
care) or post-deductible (pay for medical expenses
after the plan deductible is met) HRA, then you
can still be eligible for an HSA. If your
employer contributes to an HRA that can only be
used when you retire, you can still be eligible
for an HSA
My
spouse has an FSA or HRA through their employer,
can I have HSA?
You cannot have an HSA if your spouses FSA or HRA
can pay for any of your medical expenses before
your HDHP deductible is met.
^
TOP
I
don’t have a job, can I have an HSA?
Yes, if you have coverage under an HDHP. You do
not have to have earned income from employment -
in other words, the money can be from your own personal
savings, income from dividends, unemployment or
welfare benefits, etc.
Does
my income affect whether I can have an HSA?
There are no income limits that affect HSA eligibility.
However, if you do not file a federal income tax
return, you may not receive all the tax benefits
HSAs offer.
Can
I start an HSA for my child?
No, you cannot establish separate accounts for your
dependent children, including children who can legally
be claimed as a dependent on your tax return.
I’m
a single parent with HDHP coverage but have child/relative
that can be claimed as a dependent for tax purposes,
and this dependent also has non-HDHP coverage. Am
I still eligible for an HSA?
Yes, you are still eligible for an HSA. Your
dependent’s non-HDHP coverage does not affect
your eligibility, even if they are covered by your
HDHP.
