Who Can Have an HSA?

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 have Medicaid, can I have an HSA?

I am a Veteran, can I have an HSA?

I’m active-duty military and have Tricare coverage, 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?

I’m a single parent with HDHP coverage but have child 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?  Top
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 to contribute to an HSA.

Can I get an HSA even if I have other insurance that pays medical bills?  Top
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?  Top
No, the policy does not have to be in your name. As long as you have coverage under the HDHP policy and you do not have any other first dollar medical coverage, you can be eligible to contribute to an HSA (assuming you meet the other eligibility requirements for contributing to an HSA). You can still be eligible to contribute to an HSA even if the health plan is in your spouse’s name.

I don’t have health insurance, can I get an HSA?  Top
Unfortunately, you cannot establish and contribute to an HSA unless you have coverage under an HDHP.

I’m on Medicare, can I contribute to an HSA?  Top
You are not eligible to contribute to an HSA after you have enrolled in Medicare. If you had an HSA before you enrolled in Medicare, you can keep it and use it to pay for eligible expenses on a tax-free basis. However, you cannot continue to make contributions to an HSA after you enroll in Medicare.

I have Medicaid, can I contribute to an HSA?  Top
You are not eligible to contribute to an HSA if you are covered by Medicaid.

I am a Veteran, can I contribute to an HSA?  Top
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 to contribute to an HSA. Beginning January 1,  2016, you will be eligible to contribute to an HSA if you received VA health benefits for a service related disability or for preventive care.

I’m active-duty military and have TRICARE coverage, can I contribute to an HSA?  Top
At this time, it is our understanding TRICARE does not offer an HDHP option, so you are not eligible to contribute to an HSA.

My employer offers an FSA, can I have both an FSA and an HSA?  Top
You can have both types of accounts, but only under certain circumstances. General Purpose Flexible Spending Arrangements (FSAs) will typically make you ineligible for an HSA. General purpose FSAs reimburse medical, vision and dental expenses for you, your spouse and your dependents. If your employer offers a “limited purpose” (limited to dental, vision or preventive care) or “post-deductible” (pay for medical expenses after the IRS 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?  Top
You can have both types of accounts, but only under certain circumstances. General Health Reimbursement Arrangements (HRAs) will typically 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 IRS 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 may still be eligible for an HSA.

My spouse has an FSA or HRA through their employer, can I have HSA?   Top
You cannot have an HSA if your spouse’s FSA or HRA can pay for any of your medical expenses before your HDHP deductible is met.

I don’t have a job, can I have an HSA?  Top
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?   Top
There are no income limits that affect HSA eligibility. 

I’m a single parent with HDHP coverage but have a child 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?   Top
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.