Any individual that:
- Is covered by an HDHP
- Is not covered by other health insurance
- Is not enrolled in Medicare
- Can't be claimed as a dependent on someone else's tax return
Children cannot establish their own HSAs
No income limits on who may contribute to an HSA
No requirement of having earned income to contribute to an HSA
(Revised August 18, 2004)
What other health coverage is allowed to still be eligible for an HSA?
Specific disease or illness insurance and accident, disability, dental care, vision care and long-term care insurance
Employee Assistance Programs, disease management program or wellness program
- These programs must not provide significant benefits in the nature of medical care or treatment
Drug discount cards
Eligibility for VA Benefits
- Unless you have actually received VA health benefits in the last three months
(Revised August 18, 2004)
What "1st dollar" medical benefits make someone ineligible for an HSA?
- Medicare
- Tricare Coverage
- Flexible Spending Arrangements
- Health Reimbursement Arrangements
There are permitted HSA/HRA/FSA combinations
(Revised August 18, 2004)
Permitted HSA/HRA/FSA combinations:
- "Limited purpose" FSAs and HRAs that restrict reimbursements to certain permitted benefits such as vision, dental, or preventive
care benefits
- "Post-deductible" FSAs or HRAs that only provide reimbursement after the minimum annual deductible has been satisfied under the HDHP
- "Retirement" HRAs that only provide reimbursement after an employee retires
- "Suspended" HRAs where the employee has elected to forgo health reimbursements for the coverage period (Revised August 18, 2004 7)
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