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What is an HSA-eligible insurance plan?

An HSA-eligible insurance plan is often referred to as a High Deductible Health Plan (HDHP). In order to have a Health Savings Account, you must get an HSA-eligible health insurance plan. As inferred by its name, this type of plan usually has lower premiums coupled with higher deductibles and co-pays.

In order for a health insurance plan to be considered HSA-eligible, it must satisfy the following criteria:

  • The annual deductible must be at least $1,100 for individuals and at least $2,200 for families.
  • The total out-of-pocket cost (other than premiums) of the plan does not exceed $5,500 for individuals and $11,000 for families.

NOTE: If you have coverage under a spouse’s employer-sponsored plan or other health insurance coverage in addition to your HSA-eligible health insurance plan, then the other plan must also be HSA-eligible in order to contribute to an HSA. HSAs do not allow overlapping benefits, which means that if the other plan is not HSA-eligible, it cannot cover any benefits offered by your HSA-eligible plan.

Health Savings Account (HSA) FAQs

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