How Do You Know If You Are Eligible for an HSA?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. But how do you know if you are eligible for an HSA?

To be eligible for an HSA, you must meet the following criteria:

• You are covered by a high deductible health plan (HDHP)
• You are not enrolled in Medicare
• You are not claimed as a dependent on someone else's tax return

If you meet these eligibility requirements, you can open and contribute to an HSA. HSAs offer flexibility, control, and tax advantages that make them an attractive option for many individuals.

Health Savings Accounts (HSAs) are more than just a savings tool; they offer individuals a unique way to manage healthcare costs while enjoying substantial tax benefits.