Can I Enroll in an HSA and Use Tricare Reserve Select?

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Enrolling in an HSA with TRS

Yes, you can enroll in an HSA (Health Savings Account) and use Tricare Reserve Select. Tricare Reserve Select is a premium-based health plan offered by the Department of Defense for qualified members of the Selected Reserve, Individual Ready Reserve, and their families. It provides comprehensive health coverage at a low cost.

Here's how you can enroll in an HSA and use Tricare Reserve Select:

Steps to open and use HSA

• Ensure you are eligible for Tricare Reserve Select.
• Open an HSA account with a qualified financial institution.
• Contribute to your HSA to save for qualified medical expenses.
• Use your HSA funds to pay for eligible healthcare services not covered by Tricare Reserve Select.

Having an HSA can complement your Tricare Reserve Select coverage by allowing you to save for future healthcare expenses tax-free. It's a valuable financial tool that can help you manage your healthcare costs effectively.

Absolutely! If you're a qualified member of the Selected Reserve or Individual Ready Reserve and enrolled in Tricare Reserve Select, you can easily open an HSA (Health Savings Account) to help manage your healthcare costs. This combination can serve as a financial safety net for your medical expenses.