Can You Get an HSA Policy That's Not a Group Policy?

Check eligibility on the go — browse 7,000+ HSA-eligible products in the free app.

Can you open an individual HSA

If you're considering opening a Health Savings Account (HSA) and wondering if you can get an HSA policy that's not a group policy, the answer is yes!

Individuals can open their own HSA without having to be a part of a group policy through their employer.

Key HSA features and tax benefits

Here are some key points to keep in mind:

• An HSA is a personal savings account designed to help individuals save for qualified medical expenses.
• HSAs are typically offered by banks, credit unions, insurance companies, and other approved financial institutions.
• Individuals can contribute to their HSA on their own, and contributions are tax-deductible.
• With an HSA, you have control over how the funds are invested, and the money rolls over year after year, unlike a Flexible Spending Account (FSA).
• Having an HSA can provide you with a financial safety net for unexpected medical expenses.

In addition to being a personal savings account for qualified medical expenses, HSAs provide unique tax advantages that are hard to beat!

Why choose an HSA outside group policy

So, if you're looking to take control of your healthcare expenses and save for the future, opening an HSA that's not tied to a group policy is a great option!

Absolutely! You can enjoy the benefits of a Health Savings Account (HSA) without being part of a group policy. Opening an individual HSA allows you to take charge of your medical savings.