Who Can Contribute to an HSA Plan? - Understanding HSA Contributions

Health Savings Accounts (HSAs) offer a tax-advantaged way to save for medical expenses, but who can contribute to an HSA plan? Let's explore the eligibility requirements for HSA contributions.

Individuals who want to contribute to an HSA must meet the following criteria:

• Be covered by a high-deductible health plan (HDHP)
• Not be enrolled in Medicare
• Not be claimed as a dependent on someone else's tax return

In addition to individual contributions, employers can also make contributions to their employees' HSAs. It's essential to understand the contribution limits for both individuals and employers to maximize the benefits of an HSA.

Are you considering contributing to a Health Savings Account (HSA)? It's essential to know who is eligible to make contributions! To qualify, you must be enrolled in a high-deductible health plan (HDHP), and you can't be on Medicare or claimed as a dependent on someone else's tax return.