What Score Do You Need to Pass the Government HSA?

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No passing score for HSAs

When it comes to Health Savings Accounts (HSAs) offered by the government, there is no specific 'passing score' required. HSAs are not like exams that you have to pass; instead, they are financial accounts that allow you to save money tax-free for qualified medical expenses.

When considering Health Savings Accounts (HSAs) created under government guidelines, it’s essential to note that there's no exam or 'passing score' you need to achieve. These accounts are designed as a financial tool to help you save money for future healthcare costs on a tax-free basis.

Eligibility criteria to open and contribute

However, there are eligibility criteria that you need to meet in order to open and contribute to an HSA:

• Be covered by a High Deductible Health Plan (HDHP)
• Cannot be claimed as a dependent on someone else's tax return
• Cannot be enrolled in Medicare
• Cannot have other non-HDHP health coverage, with some exceptions

Contribution limits and 2021 amounts

If you meet these criteria, you can open and contribute to an HSA. There is no passing score, but there are contribution limits set by the government each year. For 2021, the individual contribution limit is $3,600, and the family contribution limit is $7,200.