Eligibility Requirements to Participate

To participate in an HSA, you must first be enrolled in a qualified High Deductible Health Plan (HDHP) on the first day of the month. You may be enrolled in a qualified HDHP either through your employer or spouse’s plan.

Additionally, there are certain other eligibility requirements you must consider before you can participate:

 

 

You may not have secondary coverage that is non-HSA compatible

If you are covered by a qualified HDHP and also have secondary coverage through your spouse’s health plan that does not meet the minimum requirements for a HDHP, you would not be eligible to establish a new HSA or make contributions to a current HSA.

 

You may not be claimed as a dependent on another’s tax return

If you are still being claimed on someone else’s tax return, you are not eligible to establish your own HSA. If this is the case, you may still be able to use the HSA funds (if applicable) of the parent or guardian claiming you on their tax return.

 

You may not participate in a general purpose Healthcare FSA or HRA

If you or your spouse participates in a Healthcare Flexible Spending Account (Healthcare FSA) or a Health Reimbursement Arrangement (HRA) that allows for reimbursement of your medical expenses, you are not eligible to establish a new HSA or make contributions to a current HSA.

 

You may not use VA or Indian Health Service medical benefits

If you have accessed VA or Indian Health Service medical benefits, you must wait three months from the time of use of those benefits to make contributions to your HSA. This does not include use of VA or Indian Health Service benefits for preventative care, dental, vision, well-baby visits, and immunizations.

 

 

You may not be enrolled in Medicare or TRICARE

Once you are enrolled in Medicare or TRICARE, you are no longer eligible to make contributions to your HSA. However, you may still continue to use your funds. If you are age 65 or older, as long as you have not enrolled in Medicare or TRICARE, you may continue to make contributions and use your funds.

 

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