1. Who is eligible to open an HSA?
Anyone, individuals, employees and employers, can open an HSA but you must have a corresponding high deductible health policy. More technically, an HSA can be established for any individual that meets all of the following:
- is covered by a high deductible health plan
- is not covered by another health plan
- is not eligible to be claimed as a dependent on another person’s tax return
- is not entitled to Medicare benefits
For more information please see our Eligibility & Contribution Worksheet
