What Does Health Insurance Deductible Have to Be to Qualify for HSA?

Health insurance deductible must meet specific criteria in order to qualify for an HSA (Health Savings Account). The deductible for an individual plan must be at least $1,400 and for a family plan, it must be at least $2,800 in 2021. These are the minimum limits set by the IRS for high deductible health plans (HDHPs) that are eligible for pairing with an HSA.

Here are some key points to remember:

• For an individual to qualify for an HSA, the deductible must be at least $1,400.
• For a family to qualify for an HSA, the deductible must be at least $2,800.
• These deductible amounts are set by the IRS for high deductible health plans (HDHPs) that are eligible for pairing with an HSA.
• An HSA offers tax advantages and can be used to save for medical expenses.

To take advantage of a Health Savings Account (HSA), your health insurance deductible needs to meet certain thresholds, specifically defined by the IRS. For 2021, the deductible for an individual plan must be at least $1,400, while for a family plan, it's set at a minimum of $2,800. These amounts categorize your health plan as a High Deductible Health Plan (HDHP), which is vital for HSA eligibility.