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| What
insurance plans are HSA-eligible? |
In order to have a Health Savings Account, you must get an HSA-eligible health insurance
plan. This type of insurance plan is often referred to as a High Deductible Health Plan
(HDHP), and is typically less expensive than plans with lower deductibles. |
A health insurance plan must meet the following criteria to be considered HSA-eligible:
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The
health insurance plan must have an annual deductible of at least $1,000 for individuals
and at least $2,000 for families. |
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The
sum of the annual deductible and the other annual out-of-pocket expenses required to be
paid under the plan (other than premiums) does not exceed $5,000 for individuals and
$10,000 for families.
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