Eligibility Guidelines
Individuals who are not enrolled in Medicare are eligible to contribute to a Health Savings Account (HSA) if they are enrolled in a qualified High-Deductible Health Plan (HDHP). A health plan that is considered a HSA qualified plan has a min deductible of $1050 (single) and $2100 for family coverage. Remember, a HDHP must be be in place before an HSA account can be opened. To find out more about HDHP's click here

Dependents cannot have their own HSA
An HSA cannot be established for persons eligible to be claimed as a dependent on another person's tax return. This is true even if the other person does not actually claim the deduction. This means HSAs are essentially limited to adults. You cannot establish a stand-alone HSA for your child.

Other Limitations
In addition, a person is not eligible to establish an HSA if they are (1) covered by any other health plan that is not an HDHP (with exceptions for plans providing certain limited types of coverage), or (2) eligible for Medicare benefits, which can include disabled persons.

Underwriting Requirements
Unless coverage is being provided via an employer-sponsored benefits program, your High-Deductible Health Plan (HDHP) coverage will be subject to normal insurance company underwriting requirements. If ongoing medical circumstances have prevented you from obtaining traditional medical insurance, you are unlikely to get a better outcome in applying for an HDHP.

No HDHP means no HSA
If you cannot qualify for a qualified High-Deductible Health Plan (HDHP), you cannot establish an Health Savings Account (HSA) and make the tax-deductible contributions.