4. What insurance plans are HSA-eligible?

In order to have a Health Savings Account, you must get an HSA-eligible health insurance plan. This type of insurance plan is often referred to as a High Deductible Health Plan, and typically has lower premiums than plans with lower deductibles.

A health insurance plan must meet the following criteria to be considered HSA-eligible:

• The health insurance plan must have an annual deductible of at least $1,000 for individuals and at least $2,000 for families.
• The sum of the annual deductible and the other annual out-of-pocket expenses required to be paid under the plan (other than premiums) does not exceed $5,000 for individuals and $10,000 for families.

NOTE: If you have other health insurance coverage (such as coverage under a spouse's employer-sponsored plan) in addition to your HSA-eligible health insurance plan, then the other plan must 1) also be HSA-eligible in order to contribute to an HSA or 2) the other plan cannot cover any benefits provided under your HSA-eligible plan.

< 3. qualified medical expenses? | 5. How much can I contribute? >

More HSA (Health Savings Accounts) information:

1. What is an HSA?
2. Why should I get an HSA?
3. What are qualified medical expenses?
4. What insurance plans are HSA-eligible?
5. How much can I contribute to my HSA?
6. Is my money safe?
7. How do I use the funds in my HSA?
8. How do the tax savings work?
9. How can I get an HSA?