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HSA Eligibility

To be eligible for an HSA, you must meet the following requirements, as defined by the IRS:

  • You must be covered under a qualifying high-deductible health plan (HDHP) on the first day of the month.
  • You have no other health coverage except what is permitted by the IRS.
  • You are not enrolled in Medicare, TRICARE or TRICARE for Life.
  • You can’t be claimed as a dependent on someone else’s tax return.
  • You haven’t received Veterans Affairs (VA) benefits within the past three months, except for preventive care. If you have a disability rating from the VA, this exclusion doesn’t apply.
  • You do not have a health care flexible spending account (FSA) or health reimbursement account (HRA). Alternative plan designs, such as a limited-purpose FSA or HRA, might be permitted.

Other restrictions and exceptions may also apply. We recommend that you consult a tax, legal or financial advisor to discuss your personal circumstances.

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What’s a high-deductible health plan?

The IRS defines a qualifying high-deductible health plan as having:


  • A minimum annual deductible of $1,350 individual/$2,700 family
  • An out-of-pocket maximum of $6,750 individual/$13,500 family


  • A minimum annual deductible of $1,400 individual/$2,800 family
  • An out-of-pocket maximum of $6,900 individual/$13,800 family
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Coverage of adult children

Health care reform legislation passed in 2010 allows adult children up to age 26 to be covered by parents’ health plans, including high-deductible plans.

The tax laws regarding HSAs have not changed, however an adult child must still be considered a tax dependent in order for his or her medical expenses to qualify for payment or reimbursement from a parent’s HSA.

If you are under age 26 and covered by a parent’s HSA-eligible, high-deductible health plan, you may be able to open and fund an HSA yourself and can contribute up to the IRS family maximum. The criteria above still apply. Consult a knowledgeable benefits consultant or tax advisor.

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