Can You Make Contributions to HSA Without Being in a HDHP?

Many people wonder if they can contribute to a Health Savings Account (HSA) without being enrolled in a High Deductible Health Plan (HDHP). The short answer is no, you cannot make contributions to an HSA without being in a HDHP.

Here are some key points to consider:

• HSAs are only available to individuals who are enrolled in a HDHP.
• To be eligible to contribute to an HSA, you must be covered by a HDHP and have no other first-dollar coverage, such as a general purpose Flexible Spending Account (FSA) or Health Reimbursement Arrangement (HRA).
• Contributions to an HSA are typically made on a pre-tax basis, meaning you do not pay taxes on the money you contribute, and the funds in the account can be used to pay for qualified medical expenses tax-free.

If you are not enrolled in a HDHP, you may have other options for saving for medical expenses, such as a Flexible Spending Account (FSA) or a Health Reimbursement Arrangement (HRA).

It's a common question: Can you contribute to a Health Savings Account (HSA) without being enrolled in a High Deductible Health Plan (HDHP)? Unfortunately, the answer is no. You must be covered by a HDHP to make HSA contributions.