Who Can Do a HSA Account?

Health Savings Accounts (HSAs) are valuable tools for managing healthcare expenses. They offer tax benefits and flexibility, but not everyone is eligible to open an HSA account. So, who can do a HSA account?

Individuals who meet the following criteria can open an HSA account:

• Must be covered by a High Deductible Health Plan (HDHP)
• Cannot be claimed as a dependent on someone else's tax return
• Cannot have other health coverage, with some exceptions like dental, vision, or specific illness coverage
• Must not be enrolled in Medicare

If you meet these requirements, you can open an HSA account and start saving for your healthcare expenses while enjoying the tax advantages it offers.

Wondering who can open a Health Savings Account (HSA)? To kick off your journey towards better healthcare savings, ensure you’re covered by a High Deductible Health Plan (HDHP) and meet the essential eligibility criteria outlined below.