Health Savings Account
The HSA , or stop an existing HSA .
option allows users to view their Health Savings Account (HSA) data, start a new HSA, make changes to an existingAn HSA is a tax-sheltered trust account owned by the user for the purpose of paying qualified medical expenses for themselves, their spouse, and their dependents. When users enroll in a High Deductible Health Plan (HDHP), the health plan determines whether they are eligible for an HSA based on information provided by the user.
To be eligible for an HSA , IRS regulations state that following requirements are met:
- Must be a participant in an HDHP.
- Cannot be covered by any other health plan that is not an HDHP, except those specifically allowed (e.g., disability, dental, vision, long-term care, and limited expense flexible spending accounts).
- Cannot be claimed as a dependent on someone else’s tax return. (This does not include filing jointly as a spouse.)
- Cannot be enrolled in TRICARE, Medicare, or have received Department of Veterans Affairs (VA) benefits within the previous 3 months.
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