Eligibility Requirements Flashcards

What is the primary requirement an individual must meet to be eligible to contribute to a Health Savings Account (HSA)?

Answer: Enrollment in a High Deductible Health Plan (HDHP)

To contribute to an HSA, an individual must be covered under a qualifying High Deductible Health Plan (HDHP) and meet no other disqualifying conditions.

Which of the following would automatically disqualify an individual from contributing to an HSA?

Answer: Enrollment in Medicare Part A or Part B

Enrollment in Medicare Part A or Part B disqualifies an individual from making HSA contributions because Medicare is considered non-HDHP health coverage.

An individual claimed as a dependent on another person's federal tax return is:

Answer: Ineligible to contribute to their own HSA

Individuals who can be claimed as a dependent on someone else's tax return are not eligible to contribute to an HSA, regardless of their HDHP coverage.

Which type of supplemental coverage is permitted alongside an HDHP without disqualifying an individual's HSA eligibility?

Answer: Stand-alone dental and vision insurance

Stand-alone dental and vision insurance are classified as "permitted insurance" under IRS rules and do not disqualify an individual from contributing to an HSA.

For 2025, what is the minimum annual deductible required for a self-only High Deductible Health Plan (HDHP)?

Answer: $1,650

For 2025, the IRS set the minimum annual deductible for a qualifying self-only HDHP at $1,650.

Which of the following correctly describes the HSA eligibility status of someone covered by TRICARE?

Answer: TRICARE coverage generally disqualifies an individual from HSA contributions

TRICARE is not a qualifying HDHP and is not considered permitted insurance, so TRICARE coverage generally disqualifies an individual from contributing to an HSA.

A spouse's general-purpose Flexible Spending Account (FSA) that covers the employee's medical expenses affects the employee's HSA eligibility by:

Answer: Disqualifying the employee from contributing to an HSA

If a spouse's general-purpose FSA can pay for the employee's medical expenses, the employee is considered to have non-HDHP coverage and is disqualified from HSA contributions.