What is the Deductible Limit to Enroll in an HSA?

An HSA, or Health Savings Account, is a valuable financial tool that allows individuals to save money for medical expenses tax-free. One of the key requirements to enroll in an HSA is meeting certain deductible limits. The deductible limit to enroll in an HSA varies depending on whether you have an individual or family health insurance plan.

If you have an individual health insurance plan:

• The minimum deductible for an HSA-qualified high deductible health plan (HDHP) in 2021 is $1,400.
• The maximum out-of-pocket limit for an individual HSA-qualified HDHP is $7,000.

If you have a family health insurance plan:

• The minimum deductible for a family HSA-qualified HDHP in 2021 is $2,800.
• The maximum out-of-pocket limit for a family HSA-qualified HDHP is $14,000.

Meeting these deductible limits is a crucial step in being able to enroll in an HSA and take advantage of its benefits. By contributing to an HSA, individuals can not only save on taxes but also build a fund to cover medical expenses now and in the future.

An HSA, or Health Savings Account, is a smart option for those looking to save for medical expenses while enjoying some great tax benefits. To kick-start your HSA journey, you need to meet specific deductible limits based on your health plan type. If you have an individual plan, your minimum deductible for an HSA-qualified high deductible health plan (HDHP) must be at least $1,400, and your out-of-pocket maximum cannot exceed $7,000.