Business Health Savings Accounts Eligibility

Are Your Employees HSA-Eligible?

To be eligible for a HSA, an individual must participate in a qualified HDHP (High Deductible Health Plan) offered by their employer. A HDHP is a health plan with the following qualifications.

Employees must be enrolled in an HDHP, which has a deductible of at least $1,300 in 2017 for an individual ($1,350 in 2018) or $2,600 for a family in 2017 ($2,700 in 2018).

Maximum out-of-pocket expenses:

  • 2017: $6,550 for an individual or $13,100 for a family
  • 2018: $6,650 for an individual or $13,300 for a family

Eligibility is determined on a month-to-month basis. To qualify, employees:

  • Cannot have other health insurance, with the following exceptions: worker’s compensation, insurance for a specific disease, insurance that pays a fixed amount per day of hospitalization, dental, vision, long-term care, accident and disability insurance
  • Cannot be enrolled in Medicare Part A or Part B
  • Cannot be a dependent on another person’s tax return
  • Cannot have received VA benefits in the past three months

View Sandy Spring Bank’s HSA rates.

Apply for Your Plan

*All references to tax savings are at a federal level. State taxes vary. Please consult your tax adviser.