To open and make contributions to an HSA, you must be an adult and meet all of the following requirements:
- You must be covered under an HSA-qualified High Deductible Health Plan (HDHP).
- You are not covered by any other health plan* unless it is also a qualified HDHP.
- You are not enrolled for benefits under Medicare (generally not yet age 65).
- You are not eligible to be claimed as a dependent on another person’s tax return.
- You have not received VA benefits within the past 90 days.
- You are not covered under TRICARE for retired military personnel.
* Other types of insurance like specific injury insurance or accident, disability, dental care, vision care, or long-term care insurance are permitted.
What can make someone ineligible for an HSA? An individual is not eligible to contribute to an HSA, if they:
- are covered by another health plan (unless it is also a HDHP), or
- participate in a general purpose Flexible Spending Account (FSA) directly or indirectly as a dependent of your spouse, or
- participate in a general purpose Health Reimbursement Arrangement (HRA) directly or indirectly as a dependent of your spouse, or
- have received benefits from the VA within the last 3 months, or
- receive VA benefits in any one month, you are not eligible to contribute in that month you receive the benefit, or
- are 65 or older and are covered by Medicare.