Any adult can contribute to a Health Savings Account if they:
- Have coverage under an HSA-qualified "high-deductible health plan" (HDHP)
- Have no other first-dollar medical coverage (however, other types of insurance like specific injury insurance or accident, disability, dental care, vision care or long-term insurance are permitted)
- Are not enrolled in Medicare
- Cannot be claimed as a dependant on someone else's tax return
What is a High-Deductible Health Plan?
- A minimum deductible of $1,250 for self-only coverage and $2,500 for family coverage*
- A maximum out-of-pocket limit (including deductible and co-pays) of $6,350 for self-only coverage and $12,700 for family coverage*
You can make a contribution to your HSA each year that you are eligible.
- $3,300 Self Coverage*
- $6,550 Family Coverage*
- Individuals age 55 and older can also make additional "catch-up" contributions. The maximum annual catch-up contribution is $1,000
For more information go to Publication 969 Health Savings Accounts and Other Tax-Favored Health Plans
Please call our Health Savings Account Specialist at (402) 331-8550 with any other questions.
*2014 amounts. Amounts adjusted annually for inflation.
**Other criteria may apply. Always check with your insurance provider to be certain that the HDHP you are considering is HSA-qualified.
Please consult your tax advisor for more information about the deductibility of your HSA.
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