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Qualifying for an HSA

HSA Categories -> Qualifying for an HSA -> Under which circumstances am I eligible for an HSA?
QUESTION:

Under which circumstances am I eligible for an HSA?

ANSWER:

You're eligible for an HSA if:

- You are covered under an HSA-qualified High Deductible Health Plan (HDHP)
- You have no other disqualifying medical coverage that pays before the minimum deductible, often referred to as “first dollar coverage”
- You aren't enrolled in Medicare
- You cannot be claimed as a dependent on another person's tax return

HSA-qualified High Deductible Health Plan (HDHP)
An HDHP has a maximum limit on the sum of the annual deductible and out-of-pocket medical expenses that you must pay for covered expenses. Out-of-pocket expenses include copayments and other amounts, but don't include premiums.

- In 2017 for self-only coverage, the minimum annual deductible is at least $1,300 with a maximum out of pocket of $6,550
- In 2017, for Family coverage, the minimum annual deductible is at least $2,600 with a maximum out of pocket of $13,100

An HDHP may provide preventive care benefits without a deductible or with a deductible less than the minimum annual deductible. Preventive care includes, but isn't limited to, the following.

- Periodic health evaluations, including tests and diagnostic procedures ordered in connection with routine examinations, such as annual physicals.
- Routine prenatal and well-child care
- Child and adult immunizations
- Tobacco cessation programs
- Obesity weight-loss programs
- Screening services

 


AZ-PROD-WEB01 11/24/2017 2:13:51 AM