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Ask Dave

Qualifications for HSA?

HSAs have the same qualifications as regular medical insurance, since they'll likely pay 100% after you pay the deductible.

QUESTION: Darren had surgery a few months ago and has started looking into life insurance and medical insurance.  He wants to know if he qualifies for an HSA in the same way he would qualify for traditional medical insurance.

ANSWER: HSAs have the same qualification standards as regular medical insurance because, even though you have a high deductible, they are most likely going to pay 100% after you meet the deductible.  Of course, you don’t have to qualify for the health savings account that is tied to the medical insurance; you’re qualifying for the medical insurance – just like any other plan.