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To be eligible for an HSA, you must be covered by an HDHP. Generally, an HDHP is a health plan with:
- A deductible of at least $1,150 for single coverage
- A deductible of at least $2,300 for family coverage
- A maximum annual out-of-pocket expense limit for allowing costs, not exceeding $5,800 for single coverage
- A maximum annual out-of-pocket expense limit for allowing costs, not exceeding $11,600 for family coverage
Additionally, you must meet the following criteria:
- You must not be covered by any other health plan other than another HDHP (with limited exceptions)
- You must not be eligible to be claimed as a dependent on another person's tax return
- You are not enrolled in Medicare
Eligibility for a Health Savings Account is determined by Federal law. It is your responsibility to ensure you are eligible for an HSA. Please complete the worksheet below to determine if you are eligible.
We're sorry, you do not meet the criteria to be eligible for a Health Savings Account. If you have questions, please consult your insurance provider or tax advisor.
Based on the information you provided, you are eligible for a Health Savings Account. You may apply for a Health Savings Account by completing our
online application.
Depending on the type of other health coverage referenced in questions 5 and 6, you may or may not be eligible for an HSA. Please consult your tax advisor.
Depending on the type of FSA referenced in question 6, you may or may not be eligible for an HSA. Please consult your tax advisor.
This Eligibility Worksheet is written to support the promotion and marketing by BB&T of health savings accounts, and it is not intended to be used, and cannot be used, for the purpose of avoiding U.S. federal tax-related penalties. Each taxpayer is responsible for determining eligibility and should seek advice, based on the taxpayer's circumstances, from an independent tax advisor.
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