Health Savings Account

Who is Eligible for an HSA?

In Order to be Eligible You: • Must be covered under a high-deductible health plan (HDHP)

• Generally, may not be covered under any other type of non-HDHP benefit program, such as health flexible spending arrangements and health reimbursement arrangements, or have received Veterans Affairs (VA) medical benefits. Exceptions exist for vision, dental, long-term care, disability, and preventive care • Must not be eligible for Medicare (age 65) or if you are, not enrolled in Part A, B, or D • Can not a dependent on another person’s tax return

Eligibility for Rollovers • The assets you receive from the distributing HSA generally must be deposited into another HSA within 60 calendar days • You are entitled to one HSA rollover contribution in a 12-month period

Advantages of Using an HSA

• Triple tax advantage: save money on your health care expenses • Funds rollover each year: HSA money is portable and can be moved with you when changing jobs • Unused money: can stay in the account–earning interest that is not taxed • Lower monthly premiums than a traditional health plan buyer offers • Control how you spend your HSA money

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