Who is Eligible for a 2019 HSA?

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Core 2019 HSA eligibility requirements

A Health Savings Account (HSA) offers a tax-advantaged way to save and pay for medical expenses. Eligibility for an HSA is based on various criteria set by the Internal Revenue Service (IRS). To be eligible for a 2019 HSA, individuals must meet the following requirements:

• Be covered by a High Deductible Health Plan (HDHP)
• Not be covered by other health insurance that is not an HDHP
• Not enrolled in Medicare
• Cannot be claimed as a dependent on someone else's tax return

Additionally, to qualify for an HSA, individuals must meet the following criteria:

Why meeting criteria matters for benefits

• Must be a U.S. citizen or a resident alien
• Must not have any other health coverage that is not an HDHP
• Cannot be enrolled in Medicare
• Cannot be claimed as a dependent on someone else's tax return

It's essential to understand the eligibility requirements to take full advantage of the benefits an HSA offers. By meeting these criteria, individuals can contribute pre-tax dollars to their HSA, which can be used to pay for qualified medical expenses.

A Health Savings Account (HSA) is a powerful tool for managing healthcare costs and enjoying tax benefits. To qualify for a 2019 HSA, you need to meet certain criteria established by the IRS. This includes being enrolled in a High Deductible Health Plan (HDHP), not having other non-HDHP health insurance, and ensuring you're not on Medicare. Plus, it’s important that no one else claims you as a dependent on their tax return.