Is a VEBA Account a Disqualifying Account for an HSA?

Many people wonder if having a VEBA account affects their eligibility for a Health Savings Account (HSA). The short answer is yes, a VEBA account can disqualify you from opening or contributing to an HSA.

Here's why:

• A VEBA (Voluntary Employees' Beneficiary Association) is considered a group health plan.
• HSAs are only available to individuals who have a High Deductible Health Plan (HDHP) and no other disqualifying health coverage.
• Having a VEBA account means you have other health coverage outside of an HDHP, which makes you ineligible for an HSA.

It's essential to understand the implications of having a VEBA account if you are considering opening an HSA. You may need to explore other savings options that align with your healthcare needs.

Curious about your eligibility for a Health Savings Account (HSA) with a VEBA account? Here's what you need to know: a VEBA, or Voluntary Employees' Beneficiary Association, is classified as a group health plan, which can impact your HSA options.