To be eligible, you'll need to
🔳 enroll in an HSA-eligible High Deductible Health Plan (HDHP)
✅ not have a disqualifying circumstance
So, what are disqualifying circumstances?
There are a few factors that may disqualify you entirely or partially from having and contributing to a health savings account.
You will be fully ineligible if you...
do not have an HSA-eligible HDHP
are enrolled in Medicare Part A or Part B
are covered by another health plan that is not HSA-eligible
are claimed as a dependent on someone else's tax return
If your spouse has a non-eligible health plan but you are not covered by their insurance, you're in the clear to get an HSA and contribute up to the individual limit.
You will be partially ineligible if you...
are eligible after December 1st
are eligible and a disqualifying circumstance occurs midyear
What happens if I'm partially ineligible?
You can follow the Last Month Rule and/or calculate your prorated contribution limit for the year based on your circumstance.
If you are eligible for an HSA, that's great news! Open an HSA to get yourself on track for big savings.