health savings account (hsa)

Are HSAs Only for High-Deductible Health Plans?

Yes, to qualify for an HSA, you must be enrolled in a high-deductible health plan (HDHP). For 2023, an HDHP is defined as a plan with a minimum deductible of $1,500 for individual coverage or $3,000 for family coverage.

Frequently asked queries:

What is a Health Savings Account (HSA)?
How Can an HSA Benefit Pediatric Care?
What Expenses Are Covered Under an HSA for Children?
Are There Contribution Limits for HSAs?
Are HSAs Only for High-Deductible Health Plans?
What Are the Tax Benefits of an HSA?
How Can Parents Manage an HSA for Pediatric Expenses?
What Happens to Unused Funds in an HSA?
Can HSAs Be Used for Non-Medical Expenses?
Are There Any Drawbacks to Using an HSA?
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