Is Leo an Eligible Individual for HSA Purposes?

When it comes to determining eligibility for a Health Savings Account (HSA), there are specific criteria that individuals need to meet. Leo's eligibility for an HSA depends on several factors:

• Leo must be covered by a High Deductible Health Plan (HDHP).
• Leo cannot be claimed as a dependent on someone else's tax return.
• Leo cannot have any other health coverage that is not an HDHP.
• Leo cannot be enrolled in Medicare.

Based on these criteria, Leo needs to evaluate his health insurance coverage to see if he meets the requirements to open and contribute to an HSA.

When considering if Leo is eligible for a Health Savings Account (HSA), it's essential to understand the specific criteria that dictate this eligibility. To qualify, Leo must make sure he is enrolled in a High Deductible Health Plan (HDHP), which is a prerequisite for opening an HSA.